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Customers are Fed Up With Poor Service

Increased Dissatisfaction

The pandemic upended life as we knew it and prompted a shift in expectations. As the supply chain descended into chaos, shipment delays became the norm. Staffing shortages led to longer than normal hold times when calling customer service and other in-store problems. A “we’re all in this together” attitude prompted many consumers to extend these companies a bit of grace.

A recent study by Forrester Research on customer experience shows that patience may now be wearing thin. Prior to 2022, their annual reports revealed customer experience scores were steadily rising. That is no longer the case—the score has dipped to 71.3 from 72.1 in 2021.

IRS Ranks Last

Companies and agencies saw “good” scores dip 3%, while “poor” or “OK” ratings ticked higher. In addition, 19% percent of brands were marked lower than in the prior study, the highest drop since 2016.

Some market observers believe the poor showing may indicate that companies aren’t able to meet their customers’ changing expectations. It’s not just companies either—the Internal Revenue Service snagged a dubious ranking as consumers gave it the worst rating of any agency or company. The agency saw its approval rating plummet by over 10%.

A Few Snag Thumbs Up

While no industry segment earned a rating of “excellent,” there were a couple of pockets that positively distinguished themselves. Investment firms earned higher marks by equipping professionals with tools and messaging that resonated well with clients. Another outlier was Chewy (CHWY), which for the second time in a row snagged the top customer experience rating. The pet-care company attributed their high rating to expanded telehealth network and product line.

After a poor report card like this one, companies and agencies may rethink their customer service strategies.

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James Flippin ABOUT James Flippin James Flippin is the son of a financial advisor who grew up hearing and learning about bond yields, interest rates, the stock market, and the ins and outs of Wall Street. After stints as a licensing and business broker for Marcus and Millichap in New York City, James moved into broadcasting and became a reporter and anchor. He covered crime, politics, finance, and tech at NBC News Radio while working part-time as a producer for SiriusXM. James graduated from the University of Delaware with a bachelor’s degree in political science and economics. He's also an accomplished podcaster with over 10-years of experience.

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