For over a decade, we’ve been building Qudini as an independent SaaS company, which has now been acquired by an incredible public company, Verint. To celebrate this major milestone, we wanted to take a look back at some of the CX stats we’ve gathered over the years.
Here’s 25 B2B customer experience statistics to checkout if you want to improve your operational efficiency while driving profitability.
General customer experience statistics
Think of your loyal customers as brand ambassadors. If you give them a good brand experience, they’ll promote your business to their friends and family.
With this in mind, check out our top five customer stats:
- 66% of Gen Z consumers have made a complaint against a bank before (US Retail Banking Whitepaper).
- 45% of Gen Z, Millennial and Gen X consumers do not admire any brands (UK Business Case for Virtual Queuing Report).
- If they have a poor store experience, 88% of consumers will complain (The Cause of Complaints).
- Gen Z has a global spending power of around $200 billion a year. However, they have a direct influence on their parents, meaning they also indirectly influence a further $3 trillion a year (Retail Habits of Gen Z and Millennials Report).
- Friends influence 27% of Gen Z respondents, beating TV at 24% (Does Your Retail Brand Appeal to the Younger Generations?).
Appointment scheduling statistics
Demand for Appointment Scheduling Systems has boomed in recent years.
Here’s some insightful statistics that highlight some key points to know:
- 30% of Gen Z shoppers want to book virtual appointments – double the number of Baby Boomers (Virtual Service Retail Infographic).
- 81% of consumers want to be able to schedule at least one type of appointment with their bank (Virtual Service Revolution in Banking Infographic).
- 93% of shoppers cited at least one benefit of using an Appointment Scheduling Platform in the last year (Retail Virtual Services Report.)
- 26% of consumers would be more likely to buy from a retailer using an Appointment Scheduling System (Luxury Appointment Scheduling Report).
- Demand for online appointment scheduling is 43% higher post-pandemic (What Types of Appointments Do Customers Want).
Virtual queuing statistics
One of the quickest ways to drive revenue is by using a Queue Management Software to digitally transform the physical waiting experience.
The customer journey statistics below highlight what retailers stand to gain when they implement virtual queuing.
- 81% of of Millennials and Gen Z think that retailers using Virtual Queue Management technology would benefit them
- (Business Case for Virtual Queuing Report).
- Retailers who inefficiently manage queues lose an average of $116 million in revenue (Business Case for Virtual Queuing Report).
- Enterprise companies that invest in virtual queuing typically reduce the walkout rate by 62% (Queue Management Software Page).
- 50% of customers say the average RC benefit is that they’re more likely to visit the retailer’s store (Business Case for Virtual Queuing Report).
- 23% of shoppers will only wait for up to 3 minutes in a physical queue before walking out (Business Case for Virtual Queuing Report).
Online retail
Since the dawn of ecommerce, retailers have had to do more to keep the consumer’s attention.
The five digital customer experience statistics below about online retail highlight why:
- 62% of shoppers spend more than half of their online budget through Amazon (Retail Habits of Millennials and Generation Z in America Report).
- As a result of the pandemic, shoppers are now 47% more likely to shop for products online (Post-Pandemic Shopping Habits Report).
- Only 15% of consumers said they were satisfied by their online shopping experience (Virtual Service Revolution Report).
- Ecommerce in the US has grown by 30% when compared with online shopping before the pandemic (Virtual Service Revolution Report).
- Over a third of Gen Z shoppers (36%) consume more Youtube adverts than traditional ones (Retail Habits of Millennials and Generation Z in America Report).
Brick-and-mortar retail
Unsure about the future of physical retail? Don’t be.
These CX stats prove that the brick-and-mortar store isn’t going out of trend anytime soon:
- 41% of Gen Z shoppers learn about the brands they choose to shop with by walking past their storefronts (Retail Habits of Millennials and Generation Z in America Report).
- 92% of respondents said good in-branch experiences are important or extremely important. (US Retail Banking Whitepaper).
- On average, 38% of shoppers across all industries prefer to shop exclusively in physical stores. (Post-Pandemic Shopping Habits Report).
- 58% of Millennials and 70% of GenZers still prefer to shop in brick-and-mortar stores (Retail Habits of Millennials and Generation Z in America Report).
- 39% of US consumers told Qudin by Verint that a lack of available staff was one of the top causes of a poor in-store experience. (14 Ways to Prepare Your Retail Business for the Holiday Season).
Final Considerations
As we’ve explored, the customer experience is one of the leading factors that determines whether your business turns a profit or not. The happier the customer, the more likely they are to convert.
It’s fair to say that creating an engaging customer experience can dramatically boost your profitability, relevancy and customer loyalty.
The real question becomes: how can you create a more engaging experience?
Qudini by Verint has a track record of helping the world’s biggest businesses to answer that question with sophisticated Retail Choreography technologies. Get in touch if you’d like to learn more about our Appointment Scheduling, Queue Management, Event Booking, BOPIS or other software solutions.
