Bruce Temkin, Vice President & Principal Analyst at Forrester Research just published research called How Loyal Are Consumers? Not Very that examines the loyalty that consumers have with 113 large firms across 12 industries: airlines, banks, cell phone service providers, credit card providers, hotels, insurance firms, Internet service providers, investment firms, medical insurance companies, PC manufacturers, retailers, and TV service providers.
We asked 4,500+ US consumers about three areas of loyalty:
- Willingness to consider the provider for another purchase
- Reluctance to switch business away from the provider
- Likelihood to recommend the provider to a friend or colleague
Here are some of the industry-level findings (in terms of the percentage of loyal customers):
- Willingness-to-repurchase
- Leaders: Retailers (89%) and Insurers (82%)
- Laggards: TV Service Providers (69%) and ISPs (73%)
- Reluctance-to-switch
- Leaders: Retailers (80%) and Investment Firms (73%)
- Laggards: Airlines (62%) and TV Service Providers (63%)
- Likelihood-to-recommend
- Leaders: Retailers (81%) and Insurers (75%)
- Laggards: TV Service Providers (59%) and Health Plans (60%)
