AFTER being forced to adapt to the new norm that came with COVID-19, consumer preferences and expectations have significantly evolved, as revealed by a recent study from the Qualtrics Experience Management (XM) Institute entitled ‘2021 Consumer Trends in APAC’.
Businesses today will need to rewrite their playbooks to deliver great online, in-person, and hybrid experiences to attract and retain customers in the post-pandemic era.
“Consumers have adapted to a new, digital-first landscape, and the experiences that they have with brands across digital channels directly impact their purchasing decisions. In order to be successful, organisations need to prepare for the future instead of trying to recreate the past,” explained Qualtrics XM Institute head Bruce Temkin.
From the study, it was discovered that consumer satisfaction in Malaysia exceeds the global average, as 73% of them admitting that they were satisfied with their brand interactions, in comparison to 66% globally.
Sector-wise, medical (81%) delivered the highest levels of satisfaction, followed closely by fast-food restaurants and online retailers (both 79%).
The future of consumer expectations
Having embraced new digital channels for most engagements during the pandemic, there is now a clear differentiation between what behaviours consumers will continue to adopt:
- Transactional and self-serve engagements are expected to increase, including online retail and grocery shopping, using food delivery services, online banking, contacting customer support, online education, and streaming content. Consumers also said they expect to continue accessing medical advice online.
- Consumers intend to continue participating in exercise classes or religious services virtually, as well as catching up with friends and family.
- Customer service is an important differentiator. Consumers are more discerning than before about their purchasing choices. 24% of consumers would prefer to buy from an organisation that treats them well, compared to 19% who favour price.
- Consumers increasingly expect great experiences across multiple platforms. Organisations need to invest in delivering quality customer service and meet customers where they are – whether that’s online, in-person or somewhere in between as 35% of consumers expect to resolve support issues in person, 34% through self-service, 17% over the phone, and 14% via online chat.
- Positive experiences inspire greater levels of trust and advocacy among consumers. Consumers who have good experiences with organisations in critical industries — such as education systems, hospitals/medical clinics, and government agencies — are more likely to trust them and are more likely to recommend them to friends and family, helping to attract new customers.
This shows that organisations must continue to change and adapt to the changing consumer expectations in the post-pandemic environment.
To do that at scale, organisations will need experience data (what consumers say they want and expect) to stay ahead of customer expectations and design the experiences that attract and retain them. – June 17, 2021
