Beyond Measure jdpower.com Appliance Retailer Satisfaction Study

Transcription

1 Beyond Measure jdpower.com 2017 Appliance Retailer Satisfaction Study

2 2017 Appliance Retailer Satisfaction Study Publish Date: July 12, 2017 As the expectations of home appliance purchasers continue to evolve, retailers must understand their customers and their experiences to ensure and reap the benefits of high levels of customer satisfaction. Knowing how customers evaluate your company s practices and services, compared with those of competitors, helps increase your competitive advantage by targeting performance improvement initiatives that may increase overall customer satisfaction as well as customer loyalty and recommendations, and create retailer loyalty. The Solution The SM measures customer satisfaction with appliance retailers by examining seven factors (in order of importance): Sales Staff and Service; Store Facility; Price; Delivery Service; Sales and Promotions; Merchandise; and Installation Service. The study, which provides the appliance retailer industry with insights into the evolving needs and demands of customers, includes the following objectives: Measure satisfaction among customers who recently purchased an appliance at a major home appliance retailer Provide an understanding of awareness and how customers view retailers Examine customer shopping patterns and brand-level consideration Gauge how customers shop at appliance retailers Measure product quality and/or problems experienced The 2017 study is based on the responses of nearly 2,825 customers who purchased an appliance at a major home appliance retailer within the previous 12 months. Deliver insights into the drivers of customer loyalty and commitment How It Works Sampling The Appliance Retailer Satisfaction Study includes the largest manufacturers that represent at least 67% of market share. The 2017 study is based on the responses of nearly 2,825 customers who purchased an appliance at a major home appliance retailer within the previous 12 months. The study was fielded in February and March Appliance retailers evaluated in the study include: Best Buy hhgregg Lowe s Sears The Home Depot 2

3 J.D. Power Index Based on data obtained from the survey, an overall index is created that quantifies the impact that the factors and the attributes within them have on customer satisfaction. Specifically, the relative weight that each attribute contributes to the factor index is first calculated, followed by calculating the relative weight that each factor contributes to the overall satisfaction index. The results of those calculations are used to predict overall satisfaction based on a weighted sum of the factors, which constitutes the overall index. Financial ROI Index The Index is a calculated roll-up of performance scores, weighted relative to the importance of each factor to overall satisfaction. s are distinct parts of the customer experience that together encompass the entire experience. s are specific elements that comprise and drive satisfaction within a factor. Award Criteria Diagnostic Diagnostics are critical to quality elements that influence satisfaction within an attribute or factor. Index Explains OSAT and Loyalty Measures s Explain Index s Explain For a company to be award eligible, a minimum of 100 completed surveys must be received in their given segment: interior paint brand, exterior paint brand, exterior stain brands, and paint retailers. The highest-ranked brand in each segment receives a trophy. Award recipients that subscribe to the study have the opportunity to publicly leverage this award through J.D. Power s award licensing program. Based on data obtained from the survey, an index is created that quantifies the impact that the factors and the attributes within them have on customer satisfaction. 3

4 Leveraging J.D. Power Data to Better Understand Competitive Position Satisfaction Drivers The index for the Appliance Retailer Satisfaction Study segments the customer experience into seven factors and 20 attributes: Sales Staff and Service Availability of sales staff Knowledge of sales staff Courtesy of sales staff Speed of checkout Concern for your needs Store Facility Convenience of store location Layout and design of appliance showroom area Availability of parking Cleanliness of store Ease of finding desired appliance on my own Price Delivery Service Courtesy of delivery personnel Timeliness of delivery Condition of appliance(s) upon delivery Sales and Promotions Merchandise Availability of product information Selection of appliance brands/models available Variety of appliances offered Availability of desired appliance(s) Installation Service The index for the Appliance Retailer Satisfaction Study segments the customer experience into seven factors and 20 attributes. Oversampling J.D. Power offers a proprietary oversample opportunity allowing companies that are not currently profiled in the syndicated study to obtain competitive data sets in order to benchmark their performance against competitors that are profiled in the study. This opportunity is also available for profiled companies that want to dive deeper into a specific topic covered in the study. The same questionnaire used for the syndicated study is used for the proprietary oversample study. 4

5 Subscription Details The 2017 Appliance Retailer Satisfaction Study provides access to the insights and tools needed to gain a comprehensive, in-depth understanding of how your company is performing and to identify key areas needing improvement. Study deliverables include: New online dashboard analytic tool Active dashboard: Data elements in the dashboard may include such items as key charts and tables that highlight Key Performance Indicators (KPIs), rankings, verbatim reports, broadcast messages that have been shared, presentations, and other user-uploaded documents of interest. Dashboards can be customized to contain only the information that is critical for each user, and an expandable toolbar allows users to easily conduct ad hoc analyses and reports Performance analysis: Allows users to easily view key metrics against multiple points of reference, providing them with more control when performing rootcause analyses and benchmarking Verbatim comments: Full search functionality allows rapid access to verbatims of interest Detailed industry findings: Competitive performance overview by factor Access to a personalized competitive data set allows you to see how your company stacks up against your competitors, the industry, and the highest performers across factors and attributes at the national level Competitive data set in SPSS and Excel file format An on-site executive presentation with management insights, which includes customized strategic recommendations, study results, ongoing best practices, and analyses of high-performing appliance retailers Swoop gap analysis: Highlights improvement opportunities that have the greatest impact on customer satisfaction if improved Copy of the current questionnaire The Study provides access to the insights and tools needed to gain a comprehensive, in-depth understanding of how your company is performing. About J.D. Power J.D. Power is a marketing, consumer intelligence, and data and analytics company that helps its clients measure, understand, and improve the key performance metrics that drive their growth and profitability. J.D. Power s industry benchmarks, unique data and analytics platform, and reputation for independence and credibility has established the company as one of the world s most well-known and trusted providers of Voice of the Customer insights. Established in 1968, J.D. Power is headquartered in Costa Mesa, California, and has offices in North/South America, Asia Pacific, and Europe. Beyond Measure jdpower.com For more information about J.D. Power products and services, please contact: Christina Cooley at or Christina.Cooley@jdpa.com Nicole Tapp Nicholson at or Nicole.Nicholson@jdpa.com