Why are Americans so mad? Consumer sentiment and confidence are ugly. And Americans are reporting a problem with a product or service at a higher rate than ever before. Study after study finds a similar trend: customers are mad as hell. Katie Deighton reports for The Wall Street Journal:
Seventy-seven percent of customers reported experiencing a product or service problem in the previous 12 months, according to the latest National Customer Rage Survey, conducted in February.
That was a new high, surpassing 74% in 2023, when the study was last conducted, and 66% during the height of the pandemic in 2020. Only 32% told researchers they had experienced a problem in 1976, when a similar version of the study was first conducted.
Other studies have reached similar conclusions.
The Customer Experience and Communications Consumer Insights survey showed seventy-one percent of U.S. and Canadian respondents think most companies need to improve their customer experience, a record high, according to the seventh annual study conducted in August and published in November by fintech company Broadridge Financial Solutions.
And the research and advisory firm Forrester in June found that U.S. and Canadian consumer perceptions of the customer experience have dropped for a fourth consecutive year, with brands’ average score reaching a record low of 68.3 out of 100. The index reflects consumers’ attitudes across six metrics, including how easy a brand is to deal with and how interacting with the brand feels.
Action Line: A lot of the frustration comes with not being to get anyone on the phone when you have a problem. Explaining your situation to a chatbot isn’t the same as talking to a living human who has experience dealing with problems just like yours. The same goes for your investments. When you want a human being on the other end of the line, email me at ejsmith@yoursurvivalguy.com, and we can set up a call or even meet face to face.
