Small Gain Keeps Customer Satisfaction at Record Level, Says ACSI
07 Mayo 2024 - 7:01AM
Business Wire
Less than two years ago, customer satisfaction in the United
States was at its lowest point in 20 years. The decline began about
a decade ago and was exacerbated by inflation, supply chain
problems, and shortages caused by the COVID-19 pandemic and the war
in Ukraine. Since then, things have changed dramatically.
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ACSI 1994-2024 (Graphic: Business
Wire)
American Customer Satisfaction Index (ACSI®) at the national
level has increased sharply over the past seven quarters. Customer
satisfaction improves again in the first quarter of 2024, albeit at
a much slower pace, advancing 0.3% to an all-time high score of
78.0 (on a 0-100 scale).
The slowdown in customer satisfaction growth is consistent with
slower growth in consumer spending and GDP. Nevertheless, customer
satisfaction is at a record level, but so are customer
expectations. Historically, expectations have always been higher
than subsequent satisfaction. But when the gap is large, it often
signals a coming decline in customer satisfaction.
“While inflation has abated, it is probably still a factor
because food and housing are now a much higher percentage of
household income than they used to be,” said Claes Fornell, founder
of the ACSI and the Distinguished Donald C. Cook Professor
(emeritus) of Business Administration at the University of
Michigan. “Even if the proportion of discretionary consumer
spending declines, customer satisfaction will still have a major
impact on how consumers spend much of their money. Consequently,
the economic outlook is fairly positive — but not without
caution.”
The ACSI results appear to be inconsistent with most political
polls, which typically find that people are not pleased with the
economy and are concerned about inflation.
Clearly, inflation has contributed to the decline in customer
satisfaction, but only between 2020 and 2022. Before then, the rate
of inflation was rarely above 2% and it seems close to returning to
that level again. The biggest threat to the economy now is not weak
customer satisfaction leading to lower consumer spending, but
interest rates and high customer expectations.
The national ACSI score (or ACSI composite) is updated each
quarter based on annualized customer satisfaction scores for all
sectors and industries. For more, follow the American Customer
Satisfaction Index on LinkedIn and X at @theACSI or visit
www.theacsi.org.
No advertising or other promotional use can be made of the data
and information in this release without the express prior written
consent of ACSI LLC.
About the ACSI
The American Customer Satisfaction Index (ACSI®) has been a
national economic indicator for over 25 years. It measures and
analyzes customer satisfaction with approximately 400 companies in
about 40 industries and 10 economic sectors, including various
services of federal and local government agencies. Reported on a
scale of 0 to 100, scores are based on data from interviews with
roughly 200,000 customers annually. For more information, visit
www.theacsi.org.
ACSI and its logo are Registered Marks of American Customer
Satisfaction Index LLC.
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Denise DiMeglio 610-228-2102 denise@gregoryfca.com