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2024 Consumer Trends Report - Qualtrics
2024 Consumer Trends Report - Qualtrics
Trends Report
Your CX playbook for the year ahead
IN PARTNERSHIP WITH
Introduction
Amid the buzz and excitement of AI, this year’s People are giving less feedback to the companies As you place your bets in 2024 and beyond, I hope
Consumer Trends study is a timely reminder to they buy from, leaving many organizations blind this year’s insights and advice from our team of
organizations to not lose sight of what matters to customer friction. experts shine a light on the areas where you can
most to their success — creating genuine, human have the greatest impact.
connections with customers. CX leaders must rise to the challenge, modernizing
legacy listening programs that rely on surveys alone Consumer expectations are at an all time high,
The desire to connect and be understood is innate to meet customers where they are. and people are placing a premium on customer
in every interaction whether it’s face-to-face with experiences that prioritize human connection. For
teammates, on the phone with agents in your contact It’s these challenges where emerging technologies organizations that can deliver seamless omnichannel
center, or as consumers scroll through your website. like AI offer the biggest opportunities. experiences from their websites to their contact centers
and everything in between, it’s clear customers will
Our 4th annual Consumer Trends Report, based Whether it’s opening the aperture to new sources reward them with their dollars and lasting loyalty.
on responses from more than 28,000 consumers of customer data, unlocking intelligence by
across 26 countries, shows just how valuable those understanding the data more deeply, or providing
BRAD ANDERSON, QUALTRICS
connections really are. frontline teams with insights into the customers they PRESIDENT OF PRODUCTS,
serve, the potential for technology to enhance, not USER EXPERIENCE, AND ENGINEERING
But here’s the catch — understanding how to replace, human connection is incredible.
make those connections is getting harder.
2
What we found
4 Trend 1 // Human connection is the foundation of a winning AI strategy
11 Trend 2 // Great service beats low prices in the battle for customer loyalty
22 Trend 4 // Consumers don’t give feedback like they used to… so companies must listen in new ways
28 Methodology
3
TREND 1
Human connection
is the foundation of a
winning AI strategy
TREND 1
OPINION
Our research found that consumers are still on the fence
about AI – driven by a primary concern that it will replace
a human to connect with. That desire for human connection “It’s not a case of the first movers
rings true in their channel preferences, too – with most still
preferring to interact with human channels over digital,
especially for high-stakes tasks like resolving an issue with
winning, but the best movers winning.
a bill, and switching to digital for simpler, transactional
activities like checking an order status. Companies that get AI right, that apply
it in ways that make things easier and
more personal for customers,
will absolutely win.”
BRANDON HANSON, QUALTRICS
OF CONSUMERS CONTACT CENTER PRACTICE LEADER
ARE COMFORTABLE
INTERACTING WITH AN
ORGANIZATION’S AI
5
TREND 1
GET TECHNICAL
71%
SUPPORT
29%
RESOLVE AN
73%
ISSUE WITH A BILL
27%
59%
SELECT A NEW
MOBILE PHONE PLAN
41%
CUSTOMERS STILL PREFER HUMAN-SERVICE
CHANNELS OVER DIGITAL APPLY FOR A NEW
60%
BANK ACCOUNT
40%
61%
HUMAN INTERACTION 62% SCHEDULE A MEDICAL
APPOINTMENT
39%
HUMAN INTERACTION
RECEIVE ADVICE FROM 81%
DIGITAL INTERACTION 38% A NURSE/DOCTOR
ABOUT A MINOR ISSUE 19%
DIGITAL INTERACTION
6
TREND 1
7
TREND 1
ANALYSIS
8
TREND 1
ADVICE
EE REPORT
That understanding will help you determine
if that experience should be AI-enabled,
024 Global
human-enabled or humans supported by
AI in the background.”
Consumer Trends
MOIRA DORSEY, QUALTRICS XM INSTITUTE
PRINCIPAL XM CATALYST
9
TREND 1
ADVICE
10
TREND 2
In 2024, despite predictions to the contrary, it’s not low price points driving consumer WHAT’S DRIVING CONSUMER PURCHASES IN 2024
purchase decisions — our research found organizations with a great reputation for
customer experience are best positioned to win share of wallet, even in a down economy.
47%
ANALYSIS 43%
BRUCE TEMKIN, QUALTRICS PRODUCT/SERVICE CUSTOMER SERVICE LOW EASY DIGITAL DOES GOOD
HEAD OF QUALTRICS XM INSTITUTE QUALITY SUPPORT PRICE EXPERIENCE THINGS FOR SOCIETY
12
TREND 2
LEARN MORE
13
TREND 2
Despite its importance, only 38% of CX professionals said they were prioritizing training
their customer service agents and frontline teams.1 As leaders face pressure to cut costs,
it’s critical to protect customer service, otherwise you risk leaving revenue on the table.
1
Qualtrics June/July 2023 study of CX professionals
14
TREND 2
ADVICE
15
TREND 3
We looked at how consumers interact with companies across HOW SATISFACTION IMPACTS LIKELIHOOD TO RETURN BY CHANNEL/JOURNEY
different channels to determine what parts of the journey work
best, and where improvements need to be made. It quickly
DIGITAL CHANNELS HUMAN CHANNELS
became clear that digital is a hotspot that needs fixing — (Chat with a system, self-serve) (Meet, talk, chat with a human)
17
TREND 3
ANALYSIS
18
TREND 3
DIGITAL SUPPORT IS WHERE The main issue in digital? The support experience. For over a decade, digital leaders have been
THE JOURNEY BREAKS
As consumers go from making a purchase to resolving hyper-focused on customer acquisition, fine-tuning
an issue online, the journey breaks down – the experience to maximize conversion. It’s time to
with satisfaction 22 % points lower compared think beyond that approach. Our research highlights
to making a purchase. the opportunity for digital leaders to become an engine
for retention and loyalty, too, increasing their value to
However, for those that get digital support right, the organization by focusing on both the pre- and
EXPERIENCE GAP the rewards are significant. We found customers are post-purchase journey.
2.7X more likely to return after a positive digital support
experience — the highest of any channel and journey
we looked at.
OPINION
19
TREND 3
ADVICE
2024 Global
continue to resolve the issue and don’t
just go elsewhere.”
Consumer Trends
LEONIE BROWN, QUALTRICS
PRINCIPAL XM SCIENTIST, CX
20
TREND 3
LEARN MORE
21
TREND 4
+3.8
%PTS
How and where consumers make their voices heard HOW CONSUMERS ARE PROVIDING FEEDBACK ABOUT A BAD EXPERIENCE… OR NOT
POINT
DIFFERENCES
SINCE
2021
ANALYSIS
-2.4
%PTS
“ Even when customers don’t give -3.7 -3.7
%PTS %PTS
feedback, they are talking to you in
other ways — by spending less,
visiting less frequently, and stopping
-7.2
mentioning you. The question is, are you %PTS
23
TREND 4
ADVICE
24
TREND 4
ADVICE
Consumer Trends
25
TREND 4
26
Dive deeper
into the trends
shaping consumer
experience
Prepare for the year ahead
with data-driven insight
WATCH NOW
27
Methodology
The data for this report comes from a global consumer study that Qualtrics XM Institute conducted in the
third quarter of 2023. Using an online survey, XM Institute collected data from 28,400 consumers across 26
countries/regions: Argentina, Australia, Brazil, Canada, China, Colombia, Finland, France, Germany, Hong
Kong (China), India, Indonesia, Italy, Japan, Mexico, the Netherlands, New Zealand, the Philippines, Singapore,
South Korea, Spain, Sweden, Thailand, the United Arab Emirates, the United Kingdom, and the United States.
To ensure that the data was reflective of the population within those countries, we set quotas for responses to
match the gender, age, and income demographics of each country.