{"id":62094,"date":"2023-01-19T08:00:00","date_gmt":"2023-01-19T16:00:00","guid":{"rendered":"https:\/\/www.salesforce.com\/?p=62094"},"modified":"2024-04-17T10:20:51","modified_gmt":"2024-04-17T17:20:51","slug":"customer-spending","status":"publish","type":"post","link":"https:\/\/www.salesforce.com\/news\/stories\/customer-spending\/","title":{"rendered":"Personalization, Data Security, and Speed Drive Customer Loyalty Amid Uncertainty \u2014 Salesforce Research"},"content":{"rendered":"\n<div class=\"wp-block-group is-style-shadow-box is-style-takeaways\"><div class=\"wp-block-group__inner-container is-layout-constrained wp-block-group-is-layout-constrained\">\n<h2 class=\"wp-block-heading has-black-color has-text-color has-link-color wp-elements-471ecb11ca02c2e7ea813f9dd3857484\" id=\"h-key-takeaways\">Key Takeaways<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><em>81% of consumers say they will reassess their budget over the next 12 months as they seek more personalized experiences\u00a0<\/em><\/li>\n\n\n\n<li><em>52% of consumers say poor quality service is the primary reason they won\u2019t make a repeat purchase<\/em><\/li>\n\n\n\n<li><em>Over 60% expect companies to react instantly with up-to-date information when transferred between departments\u00a0<\/em><\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n<p>A new global survey of 5,000 consumers reveals critical changes to consumer spending amid inflation and economic uncertainty.<\/p>\n\n\n\n<p>These findings highlight current sentiment on spending and what it will take to earn consumer loyalty in 2023.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-retail-travel-hospitality-media-and-entertainment-most-at-risk-as-consumers-rethink-spending\"><strong>Retail, travel, hospitality, media and entertainment most at risk as consumers rethink spending<\/strong><\/h2>\n\n\n\n<p>Consumers are thinking more critically about where they will spend their money in 2023, with 81% saying they will reassess their budget over the next 12 months.&nbsp;<\/p>\n\n\n\n<p>Retailers are most at risk. Seventy-nine percent of consumers say they will reassess their spending with retail brands over the coming year. Travel and hospitality and media and entertainment also face the potential for lowered spend, with 78% and 70% of consumers, respectively, reporting reassessment plans in those sectors.<\/p>\n\n\n<div class=\"tableau-viz-embed-container \">\n\t<tableau-viz\n\t\tclass=\"tableau-viz-embed\"\n\t\tsrc=\"https:\/\/public.tableau.com\/views\/Real-timeConnectedCustomer_Internal\/ConsumersReassesSpendingAcrossEveryIndustry?:language=en-US&#038;:display_count=n&#038;:origin=viz_share_link\"\n\t\ttoolbar=\"hidden\"\n\t\thide-tabs\n\t><\/tableau-viz>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-personalized-real-time-experiences-drive-loyalty-for-spend-conscious-consumers\"><strong>Personalized, real-time experiences drive loyalty for spend-conscious consumers<\/strong><\/h2>\n\n\n\n<p>An economy plagued by inflation and staffing shortages hasn&#8217;t lowered consumers\u2019 expectations for top-notch service. Fifty-two percent, in fact, expect a <em>better <\/em>experience from their favorite brands as a result of the current economic climate.<\/p>\n\n\n\n<p>The good news is these same consumers are clear about what they believe makes an improved experience.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>Seventy-two percent say they will remain loyal to companies that deliver faster service, and 65% say they will stay loyal if the company offers a more personalized experience.&nbsp;<\/p>\n<\/blockquote>\n\n\n\n<p>Consumers also expect brands to use their data to offer more relevant customer services, with over 60% reporting they expect companies to react instantly with the most up-to-date information when transferring across departments. Bolstering trust can also be an opportunity for loyalty; 76% of consumers say that companies that provide data security will encourage their loyalty.<\/p>\n\n\n<div class=\"wp-block-image\"><div class=\"wp-block-image__wrapper\">\n<figure class=\"aligncenter size-large prevent-download\"><a href=\"#\" class=\"wp-block-image__modal-toggle\" aria-expanded=\"false\" data-modal-id=\"62106-modal\"><span class=\"screen-reader-text\">Open Image Modal<\/span><img loading=\"lazy\" decoding=\"async\" height=\"576\" width=\"1024\" src=\"https:\/\/www.salesforce.com.go-vip.net\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=1024\" alt=\"\" class=\"wp-image-62106\" srcset=\"https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg 1920w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=300&amp;h=169 300w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=768&amp;h=432 768w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=1024&amp;h=576 1024w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=1536&amp;h=864 1536w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=264&amp;h=149 264w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=500&amp;h=281 500w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=678&amp;h=381 678w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=150&amp;h=84 150w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=314&amp;h=177 314w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=343&amp;h=193 343w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=1414&amp;h=796 1414w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=1218&amp;h=685 1218w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n<div id=\"62106-modal\" class=\"image-modal\" aria-hidden=\"true\" aria-labelledby=\"image-dialog-title\"><div class=\"image-modal__overlay\" tabindex=\"-1\" data-a11y-dialog-hide><\/div><div class=\"image-modal__content\" role=\"dialog\"><button class=\"image-modal__close-button\" type=\"button\" data-a11y-dialog-hide aria-label=\"Close this image dialog window\"><svg viewBox=\"0 0 26 25\" height=\"16\" width=\"16\" fill=\"currentColor\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><rect x=\".626\" y=\"22.753\" width=\"32\" height=\"3\" rx=\"1.5\" transform=\"rotate(-45 .626 22.753)\"\/><rect x=\"2.747\" y=\".125\" width=\"32\" height=\"3\" rx=\"1.5\" transform=\"rotate(45 2.747 .125)\"\/><\/svg><\/button><h1 id=\"image-dialog-title\" class=\"screen-reader-text\">Image Modal<\/h1>\n<figure class=\"wp-block-image aligncenter size-large prevent-download\"><img loading=\"lazy\" decoding=\"async\" width=\"1920\" height=\"1080\" src=\"https:\/\/www.salesforce.com.go-vip.net\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=1024\" alt=\"\" class=\"wp-image-62106\" srcset=\"https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg 1920w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=300&amp;h=169 300w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=768&amp;h=432 768w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=1024&amp;h=576 1024w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=1536&amp;h=864 1536w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=264&amp;h=149 264w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=500&amp;h=281 500w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=678&amp;h=381 678w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=150&amp;h=84 150w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=314&amp;h=177 314w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=343&amp;h=193 343w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=1414&amp;h=796 1414w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2023\/01\/RTCC-Static-Graphic.jpg?w=1218&amp;h=685 1218w\" sizes=\"auto, (max-width: 1920px) 100vw, 1920px\" \/><\/figure>\n<\/div><\/div><\/div><\/div>\n\n\n<h2 class=\"wp-block-heading\" id=\"h-disconnected-experiences-spark-frustration-for-consumers\"><strong>Disconnected experiences spark frustration for consumers<\/strong><\/h2>\n\n\n\n<p>On the flip side of the coin, consumers were also willing to report what made for a poor experience.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>They reported top frustrations ranging from disconnected experiences (40%), to being asked questions that they\u2019ve answered before (35%), and being offered products that aren\u2019t relevant to them (33%).&nbsp;<\/p>\n<\/blockquote>\n\n\n\n<p>When added together, frustrating experiences create negative brand perceptions \u2014 and possibly, a future customer lost. According to 52% of consumers, poor quality service is the primary reason that prevents them from making a repeat purchase.<\/p>\n\n\n\n<aside class=\"contextual-driver has-text-align-left contextual-driver--einstein\">\n\t<header class=\"tidbit-header\">\n\t\t<h2 class=\"tidbit-head\">\n\t\t\tIntroducing the Salesforce Stat Library\t\t<\/h2>\n\t<\/header>\n\t<div class=\"tidbit-body\">\n\t\t<p>Find the right stat for any story in our searchable research database.<\/p>\t<\/div>\n\t\t\t<p class=\"tidbit-link label\">\n\t\t\t<a class=\"label has-right-arrow has-right-arrow--small\" href=\"https:\/\/www.salesforce.com\/news\/stat-library\/\" target=\"_blank\">\n\t\t\t\t<span>Check it out<\/span>\n\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 14 10\">\n\t<path d=\"M13.92 5.38a1 1 0 000-.76.9.9 0 00-.17-.26.25.25 0 000-.07l-4-4a1 1 0 00-1.46 1.42L10.59 4H1.07a1 1 0 000 2h9.52l-2.3 2.29a1 1 0 000 1.42 1 1 0 001.42 0l4-4a.25.25 0 000-.07.9.9 0 00.21-.26z\" \/>\n<\/svg>\n\t\t\t<\/a>\n\t\t<\/p>\n\t\t\t\t<img class=\"tidbit img-einstein\"\n\t\tsrcset=\"\n\t\t\thttps:\/\/www.salesforce.com\/news\/wp-content\/themes\/newsroom\/assets\/images\/article-tidbit-einstein-large@0.5x.png 84w,\n\t\t\thttps:\/\/www.salesforce.com\/news\/wp-content\/themes\/newsroom\/assets\/images\/article-tidbit-einstein-large@1x.png 168w,\n\t\t\thttps:\/\/www.salesforce.com\/news\/wp-content\/themes\/newsroom\/assets\/images\/article-tidbit-einstein-large@2x.png 336w\n\t\t\"\n\t\tsrc=\"https:\/\/www.salesforce.com\/news\/wp-content\/themes\/newsroom\/assets\/images\/article-tidbit-einstein-large@1x.png\"\n\t\talt=\"Illustration of einstein\"\n\t\tsizes=\"(min-width:1024px) 175px, 130px\"\n\t>\n\t<\/aside>\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-real-time-data-drives-exceptional-customer-experiences-nbsp\"><strong>Real-time data drives exceptional customer experiences&nbsp;<\/strong><\/h2>\n\n\n\n<p>Research shows that personalized customer experiences are no longer \u2018nice to have,\u2019 they are essential to competing in a changing economy.&nbsp;<\/p>\n\n\n\n<p>Real-time data offers a path for companies that want to compete in this new economy and deliver the personalized experiences consumers expect. When pulled together into a single source of truth, <a href=\"https:\/\/www.salesforce.com\/ap\/products\/genie\/overview\/\" target=\"_blank\" rel=\"noreferrer noopener\">real-time data<\/a> offers rich and actionable insights that can help deliver intelligent and connected customer experiences.&nbsp;<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>To retain market share and drive revenue growth amid macroeconomic uncertainty, brands need to ensure their offerings stand out from their competitors. That requires more than just a great product at a low price. Today\u2019s consumers want personalized experiences and faster service, and they\u2019re ready to shop around if their expectations aren\u2019t met.<\/p>\n<cite>Matt McLarty, Global Field CTO, MuleSoft<\/cite><\/blockquote>\n\n\n\n<p>\u201cCompanies that want to increase customer loyalty must leverage real-time, intelligent, and automated technology solutions that support seamless connected experiences and personalized journeys,\u201d continued McLarty. \u201cBusinesses must be capable of both understanding and acting on their data. This will mean the difference between thriving or surviving as businesses navigate challenges in 2023.\u201d<\/p>\n\n\n\n<aside class=\"contextual-driver has-text-align-left contextual-driver--media\">\n\t<header class=\"tidbit-header\">\n\t\t<h2 class=\"tidbit-head\">\n\t\t\tSalesforce Genie Customer Data Cloud\t\t<\/h2>\n\t<\/header>\n\t<div class=\"tidbit-body\">\n\t\t<p><\/p>\t<\/div>\n\t\t\t<p class=\"tidbit-link label\">\n\t\t\t<a class=\"label has-right-arrow has-right-arrow--small\" href=\"https:\/\/www.salesforce.com\/products\/genie\/overview\/\" target=\"_blank\">\n\t\t\t\t<span>See product overview<\/span>\n\t\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 14 10\">\n\t<path d=\"M13.92 5.38a1 1 0 000-.76.9.9 0 00-.17-.26.25.25 0 000-.07l-4-4a1 1 0 00-1.46 1.42L10.59 4H1.07a1 1 0 000 2h9.52l-2.3 2.29a1 1 0 000 1.42 1 1 0 001.42 0l4-4a.25.25 0 000-.07.9.9 0 00.21-.26z\" \/>\n<\/svg>\n\t\t\t<\/a>\n\t\t<\/p>\n\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1101\" src=\"https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png?w=1024\" class=\"tidbit\" alt=\"\" srcset=\"https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png 3385w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png?w=279&amp;h=300 279w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png?w=768&amp;h=825 768w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png?w=953&amp;h=1024 953w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png?w=1429&amp;h=1536 1429w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png?w=1906&amp;h=2048 1906w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png?w=246&amp;h=264 246w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png?w=340&amp;h=365 340w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png?w=678&amp;h=729 678w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png?w=140&amp;h=150 140w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png?w=180&amp;h=193 180w, https:\/\/www.salesforce.com\/news\/wp-content\/uploads\/sites\/3\/2022\/09\/Genie_Rabbit_poses_8-31-22-1.png?w=1218&amp;h=1309 1218w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/>\t<\/aside>\n\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-more-information\"><strong>More information:<\/strong><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>See how to deliver success now with <a href=\"https:\/\/www.salesforce.com\/blog\/what-is-salesforce-genie\/\" target=\"_blank\" rel=\"noreferrer noopener\">real-time data<\/a>.&nbsp;<\/li>\n\n\n\n<li>Learn how <a href=\"https:\/\/www.salesforce.com\/ap\/blog\/2022\/12\/elevating-automation-genie-mulesoft.html\" target=\"_blank\" rel=\"noreferrer noopener\">MuleSoft powers<\/a> Salesforce Genie Customer Data Cloud.&nbsp;&nbsp;&nbsp;<\/li>\n\n\n\n<li>Read how new Salesforce for Retail innovations&nbsp;<a href=\"https:\/\/www.salesforce.com\/news\/press-releases\/2023\/01\/12\/retail-announcements-nrf-2023\/\" target=\"_blank\" rel=\"noreferrer noopener\">help personalize<\/a>&nbsp;every shopping moment.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-research-methodology\"><strong>Research Methodology<\/strong><\/h3>\n\n\n\n<p>Salesforce conducted this global survey in partnership with Survey Monkey in December 2022. The total sample size was 5,038 adults: UK (1,015 adults), U.S. (1,008 adults), Canada (1,006 adults), Australia (1,005 adults), and Singapore (1,002 adults). The figures are representative of adult populations (aged 18+).<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways A new global survey of 5,000 consumers reveals critical changes to consumer spending amid inflation and economic uncertainty. These findings highlight current sentiment on spending and what it will take to earn consumer loyalty in 2023. Retail, travel, hospitality, media and entertainment most at risk as consumers rethink spending Consumers are thinking more [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":62119,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sf_subhead":"","sf_i18n_disclaimer":false,"_jetpack_memberships_contains_paid_content":false,"alternateThumbnailId":0,"sf_product_cta_id":0,"footnotes":""},"categories":[1],"tags":[],"sf_content_type":[1728],"sf_theme":[1912],"sf_topic":[2239,1723],"sf_product":[2717,1768],"sf_industry":[],"sf_role":[],"sf_multimedia_asset":[],"sf_location":[1798],"sf_collection":[2838],"sf_visibility":[],"coauthors":[],"class_list":["post-62094","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","sf_content_type-snapshots","sf_theme-digital-transformation","sf_topic-analytics","sf_topic-trust","sf_product-data-360","sf_product-mulesoft","sf_location-global","sf_collection-future-of-crm"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - 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