Consumer Facts: 25 Surprising Statistics About American Consumers

Here are some really interesting facts about American consumers that I believe any small medium business owner would love to know!

Consumer Facts: 25 Statistics About American Consumer 

 

91% & Customer Service Fact# 1

91% of American customers take customer service quality into consideration before deciding to do business with any brand, company ⁽¹⁾. 

Excellent Customer Service Fact# 2

Almost 70% American customers/consumers are willing to spent more (13%) with brands, businesses that provides excellent customer service ⁽²⁾.

51% American Consumers Switched Fact# 3

51% of U.S. consumers switched service providers in the past year due to poor customer service experiences ⁽³⁾.

Great Service Experience Fact# 4

80% of American customers are more likely to give repeat business to businesses, brands that delivers great service experience ⁽¹⁾.

Better Service Experience Fact# 5

Three in five Americans (59%) would try a new brand or company for a better service experience ⁽⁴⁾.

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Repeat Customer Spending Fact# 6

Repeat customer in America spends 67% more ⁽⁵⁾.

No Repeat Business Fact# 7

While 52% do not give repeat business to businesses that fails to deliver great customer experience ⁽¹⁾.

U.S Customers & Complaints Fact# 8

In case of complaints, 70% of your customers will do business with you if you resolve their complaints successfully ⁽⁶⁾.

U.S Customers & Online Shopping Fact# 9

When purchasing online, 81% of visitors expect help within five minutes ⁽⁷⁾.

U.S Customer & Online Spending Fact# 10

60% of U.S customers are more likely to buy from website that offers live chat ⁽⁷⁾.

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U.S Customer & Dissatisfaction Fact# 11

96% of dissatisfied customers never report about their dissatisfaction ⁽⁸⁾.

64 to 74% of U.S. Customers Fact#12

According to a study, 64 to 74% of U.S. customers pointed out the following reasons that resulted in their dissatisfaction ⁽⁹⁾.

1.      Poor product/service quality
2.      Irrelevant information
3.      Being responded late/delays
4.      To contact or interact multiple times

10 Most Hated Companies in America (2014) ⁽¹⁰⁾ Fact# 13

Hated by its customers, employees, investors, stakeholders.

1.      McDonalds
2.      Abercrombie & Fitch
3.      Electronic Arts
4.      Sears Holdings
5.      DISH Network
6.      Wal-mart
7.      JPMorgan Chase
8.      Lululemon
9.      BlackBerry
10.  JCPenney

10 Companies with worst American Customer Satisfaction Index (2014) ⁽¹¹⁾ Fact# 14

AT&T Mobility rated 68/100

LinkedIn  rated 67/100

Facebook rated 67/100

American airlines rated 66/100

AT&T  (U-Verse) rated 65/100

Cox Communications rated 64/100

Charter Communications rated 60/100

United Airlines rated 60/100

Comcast rated 57/100

Time Warner Cable [Internet Service Providers] rated 54/100

10 Companies with great American Customer Satisfaction Index (2014) ⁽¹¹⁾ Fact# 15

H.J Heinz rated 87/100

Mercedez Benz (Daimler) rated 86/100

Hershey rated 86/100

Subaru rated 85/100

Nestle rated 85/100

General Mills rated 85/100

Mars rated 85/100

Colorox rated 85/100

Quaker (Pepsi Co) rated 85/100

Kraft rated 84/100

6-7 Times More Fact# 16

In America it cost 6 to 7 times more to gain new customer than to retain existing one ⁽¹²⁾.

Top Five Fact# 17

Top five best selling products in America, in other words top five products bought by American customers are ⁽¹³⁾

1.      iphone (Revenue $80.5 billion, Market Share 20.9%)
2.      Marlboro (Revenue $19.0 billion, Market Share 42.6%)
3.      Coca-Cola (Revenue $14.3 billion, Market Share 41.9%)
4.      Enfamil (Revenue $2.3 billion, Market Share 15.1%)
5.      Monster (Revenue $1.9 billion, Market Share 37.2%)

Average Monthly Spending Fact# 18

On average an American customer spends $2679 a month ⁽¹⁴⁾.

Confidence in Big & Small Business ⁽¹⁵⁾ Fact# 19

American Consumer confidence (Great deal/Quite a lot) in	Small Business	Big Business
	62%	21%

Cost of Bad Customer Service in U.S Fact# 20

Whopping $84 billion per year ⁽¹⁶⁾.

30.8 Potential Work Hours Fact# 21

According to a study Americans spend 30.8 potential work hours a year waiting for customer service representative to respond, that is equal to $750 cost sustained by average American a year, that is around $108 billion annually (taking total American customers) ⁽¹⁷⁾.

American Female Consumer & $7 Trillion Fact# 22

American women spend about $7 trillion annually…Over half of the U.S. GDP ⁽¹⁸⁾.

2.5 Billion Fact# 23

There are over 2.5 billion loyalty program memberships in the U.S ⁽¹⁹⁾.

61%  Fact# 24

61% American consumer’s jump ships from one brand to another due to price ⁽²⁰⁾.

Loyalty Fun fact# 25

Five things Americans are most loyal to ⁽²¹⁾.

1.      Pets the own (71%)
2.      Bands they love (69%)
3.      Sports teams they love (66%)
4.      Church (55%)
5.      University/school/college they attended (49%)

That’s it, over to you guys!

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References:

1.      http://about.americanexpress.com/news/pr/2010/barometer.aspx

2.      http://www.businesswire.com/news/home/20110503005753/en/Good-Service-Good-Business-American-Consumers-Spend#.VGX9GcnifIU

3.      http://www.accenture.com/SiteCollectionDocuments/PDF/Accenture-Global-Consumer-Pulse-Research-Study-2013-Key-Findings.pdf

4.      http://about.americanexpress.com/news/pr/2011/csbar.aspx

5.      http://www.bain.com/Images/Value_online_customer_loyalty_you_capture.pdf

6.      http://blogs.salesforce.com/company/2013/07/bad-customer-service.html

7.      http://pr.liveperson.com/index.php?s=43&item=371

8.      http://www.1stfinancialtraining.com/Newsletters/trainerstoolkit1Q2009.pdf

9.      http://www.accenture.com/SiteCollectionDocuments/PDF/Accenture-Global-Consumer-Pulse-Research-Study-2013-Key-Findings.pdf

10.  http://247wallst.com/special-report/2014/01/10/the-10-most-hated-companies-in-america-3/

11.  http://www.theacsi.org/index.php?option=com_content&view=article&id=149&catid=&Itemid=214&c=all&sort=Y2014

12.  White House Office of Consumer Affairs

13.  http://www.dailyfinance.com/2013/05/09/most-profitable-products-brands/

14.  http://www.statista.com/statistics/205241/us-self-reported-consumer-spending-by-month/

15.  http://www.gallup.com/poll/1597/Confidence-Institutions.aspx#3

16.  http://blogs.salesforce.com/company/2013/07/bad-customer-service.html

17.  http://ir.clicksoftware.com/mobile.view?c=122672&v=203&d=1&id=1947646

18.  Nielsen/NetRatings, 3/18/04

19.  Colloquy Customer Loyalty Census

20.  http://www.nielsen.com/us/en/insights/news/2013/the-price-is-right-incentives-that-stimulate-switching-behavior.html

21.  http://loyalty.fanxchange.com/?p=893