South African consumers do not mind spending more on services and product offerings that they preserve as reliable.
The South African Customer Experience Report released on 23 July shows that 71% of the 2,000 people surveyed want to spend money on reliable service or product offerings, while 63% will buy a product or service because of its price.
When it comes to the 75 business leaders across various sectors which were surveyed, 71% believe consumers keep coming back due to trust that has been established, however, only 54% of consumers say they go back to the same business because of trust.
Is price driving demand in the current cost-of-living crisis?Research business Ovatoyou founding director Amanda Reekie says it is true that price is driving demand in the current cost-of-living crisis. The report reveals that is the reason why 63% of consumers will buy from a brand again. However, consumers still want to be made to feel special by brands, and when this is done, consumers do not mind paying more.
Julia Ahlfeldt, a Customer Experience Professional (CCXP)from Julia Ahlfeldt Consulting says because money is tight, brands consumers consider alternatives. What brands are offering must be so-called moments set brands far apart from one another and it is this extra (last) mile mindset that is winning the war of the wallet.
