Bad Customer Experiences Put Nearly $4 Trillion at Risk in Global Sales [Yahoo! Finance]
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Source: Yahoo! Finance
PROVO, Utah and SEATTLE Nov. 19, 2024 /PRNewswire/ -- Businesses around the world risk $3.8 trillion in sales due to bad customer experiences - a figure $119 billion higher than last year. New research from Qualtrics, based on World Bank data and the 2025 Consumer Trends Report , highlights the impact of customer experience on loyalty and spending. As the holiday shopping season gets under way, consumers are prepared to spend their hard-earned dollars. The National Retail Federation forecasts holiday spending may reach a record level of $989 billion in the United States this year . But where those dollars are spent will be influenced by whether or not companies can deliver on shoppers' expectations. More than half (53%) of consumers say they will cut spending after a bad customer experience, and admit that one in 10 (12%) of their brand interactions don't live up to expectations. The industry sectors most at risk of cuts in spending after a bad experience are fast food brands (66
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