Customer loyalty may be a thing of the past, according to a recent survey. More than 40 percent of customers polled changed at least one of their suppliers during the past year. The result, says KPMG Consulting which conducted the survey, is that lifetime customer loyalty is disappearing.
The report, “Customer Management—Who Manages Whom?,” polled 750 people. Their responses shows that over this past year about 25 percent changed gas or electric providers; 16 percent changed supermarkets and 14 percent switched phone companies. At the low end of the change-scale, banks and credit card suppliers fared best, with changes made by only 6 percent of respondents.
The report concluded that customer loyalty cannot be taken for granted and that strategies must be devised to entice customers to retain their same suppliers.
Based on a report from i-FM
