According to an annual report from ForeSee Results, a highly satisfied online shopper is 73% more likely to purchase on the Internet, 38% more likely to purchase offline and 75% more likely to recommend the site than a dissatisfied shopper. The "Top 40 Online Retail Satisfaction Index" also found that only two of the forty online retailers scored above 80/100 on the massive 9,000 visitor survey. "That's just not playing to win in this economy," says Larry Freed, CEO of ForeSee Results.
Amazon and Netflix were the top scorers for Internet marketing company and web development this year, boasting the largest number of satisfied customers. Wal-Mart, Hewlett Packard, Staples and Target saw big gains from last year. By contrast, Circuit City, Gap, Home Depot, the Home Shopping Network, Neiman Marcus and Overstock all fell below industry standards.
According to Foresee, prices were a key element of satisfaction, but overall, improvements to merchandise and functionality offered the best return-on-investment for retailers. Price is "not the be-all, end-all for satisfaction, even in a recession," Freed said. "It's much smarter for the long term to improve satisfaction through web experience improvements than erode brand equity through price cuts."
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