The New Competitive Advantage: Customer Experience Excellence
Customer Experience Excellence
Since 2010, the Customer Experience Excellence Centre has been evaluating consumers’ appreciation of the experiences they have received from brands across a range of sectors in multiple countries. With over three million consumer reviews, these reports are among the most extensive in the world in terms of understanding customer preferences and future trends. In 2019 we are extending this analysis to the Romanian market.
Romania has experienced significant economic growth in recent years. This growth has mainly been driven by private consumption and companies have experienced a post-crisis golden era. The effect on customer experience, in general, has been mixed. On the one hand, we have witnessed opportunistic corporate behaviors, concentrated on volume sales and one-off interactions. On the other hand, more and more organizations have become aware of the role customers play in the corporate value chains, as customers themselves have become more aware of their bargaining power.
We see today a Romanian customer who is more connected than ever, more demanding and willing to switch providers with little or no effort. Digitalisation, and technology in general, have made this possible as competitive advantage is increasingly based on knowing your client and creating tailored experiences, as well as on building honest, transparent relationships. We see this by looking at the two main pillars, Personalization and Integrity, that dominate the results in terms of importance in the 2019 Romanian CX report. The relevant insights show that the Romanian market, albeit being reasonably polarized, has generally embarked on a serious journey to delivering customer excellence.
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