Business
Forrester’s US 2023 Customer Experience Index: Brands’ CX Quality Falls For A Second Consecutive Year
While four out of five business leaders say improving CX is a high priority, only 6% of brands see an increase in their CX quality NASHVILLE, Tenn. &
About this update from Forrester Research, Inc.
[{"type":"text","content":"\nWhile four out of five business leaders say improving CX is a high priority, only 6% of brands see an increase in their CX quality\n\n\n NASHVILLE, Tenn. & CAMBRIDGE, Mass.--(BUSINESS WIRE)--\nAccording to Forrester’s (Nasdaq: FORR) US Customer Experience Index (CX Index™) rankings, CX quality among brands in the US declined for an unprecedented second year in a row. Despite more than 80% of business leaders indicating that improving CX is a high priority, just 6% of brands saw a significant increase in 2023, compared to 10% the year prior.\n\n\nLuxury auto manufacturers and retailers are the only industries to significantly improve their overall CX quality this year. Brands from both industries, including Infiniti, Lincoln, and Tractor Supply, joined the 2023 list of elite brands — the top 5% of brands in the entire CX Index. Seven of the 11 elite brands are repeats from 2022: Chewy.com, Etsy, HEB, Navy Federal Credit Union, Trader Joe’s, and USAA (for both credit card issuers and auto/home insurers).\n\n\nEmotion remains a key driver for delivering high levels of CX performance. In 2023, elite brands delivered customer experiences that evoked, on average, 29 positive emotions — including feeling happy, valued, and appreciated — for each negative emotion.\n\n\n“The past 12 months have been unpredictable for consumers and brands in the US, especially as brands struggle to sustain CX quality levels achieved during the pandemic,” said Rick Parrish, VP and research director at Forrester. “Despite the continued drop in CX quality, the silver lining is that more organizations are aware that they need to prioritize their customers’ needs to drive business growth. When companies invest in improving their CX quality, they receive many benefits, including higher customer loyalty, retention, and devotion.”\n\n\nConducted for the eighth year in a row, Forrester’s Customer Experience Benchmark Survey, which collects data to calculate Forrester CX Index scores, is based on more than 96,000 US customers across 221 brands and 13 industries. Forrester’s proprietary Customer Experience Index methodology provides the data and insights needed to assess CX quality, understand how CX impacts loyalty intentions, and prioritize improvements that drive revenue. Even a minor improvement to a brand’s customer experience quality can add tens of millions...