Market Force Perspectives

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2017 is now in the books and while the year saw many prognosticators predicting the end of retail as we know it, I am happy to report that according to a MasterCard SpendingPulse report released the day after Christmas, retail spending in the United States was up 4.9% in 2017 compared to the same period last year.This data has everyone in the retail space feeling optimistic that our new economy will help them overcome some of the headwinds they faced...
We all know how important data is to any business. In today’s world we are collecting and storing more data than ever before. In fact, in the last two years we have generated 90% of the world’s data.This has been fuelled by the breakneck speed of the technology sector. Innovative startups and a highly competitive landscape constantly driving new and exciting technologies—all leading to the data explosion we see today. This pace however, has had a flip side; In order to keep...
Having worked in the CX space for 14 years across a variety of multi-location brands, I have seen a common thread in customer experience programmes that are successful in improving customer satisfaction and driving business results. Not coincidentally, these programmes follow recommended best practices: Strategy: The programme is aligned to strategic objectives Multiple Lenses: Various performance measures (mystery shop, audits, customer surveys, employee surveys, etc.)...
If you’ve felt like food-delivery service is exploding, you’re right. According to investment firm Cowen, this trend is expected to continue."All in, we forecast delivery to grow from $43 billion in 2017 to $76 billion in 2022, 12% annually over the next five years," said Cowen chief analyst Andrew Charles. "Our Survey data shows plenty of room for Online to take share." (Thomas Frank, “Home food delivery is surging thanks to ease of online ordering, new study shows,”...
Mystery shopping programmes: Driving brand standards across all locationsMost organisations leverage mystery shopping to 'inspect what they expect' on a recurring basis. They implement programmes that enable the business to understand where brand standards are being met and where opportunities exist for coaching. These programmes are typically focused on basic customer service and brand compliance matters such as greeting and engaging customers, adherence to...
A Common Mistake—Focusing on the Wrong TargetWhen I was a franchise operator, the franchisor was excited about creating a successful new CX survey programme. After using the system for a few months, the executives reviewed their progress and identified five key drivers of satisfaction. They believed that if all of their locations would focus on the five drivers, CX scores and revenues would naturally increase. They were so confident this would happen that they decided to...
A new research study by Deloitte (2017 Global Mobile Consumer Study) contends that the mobile industry will continue growing in 2017, fuelled by the Internet of Things (IoT). Their research points out three major trends driving the growth: "US consumers are looking at their devices more than 9 billion times a day in the aggregate–up 13 percent from last year. Smartphone sales are still strong, with penetration up 10 percent year over year, and the highest growth...
Does your organisation execute customer service in a flawless, exceptional manner?  It’s unlikely you’ve said yes – if you have, congratulations! It’s more likely that you’ve recognised opportunities within your organisation to improve upon the customer experience. What Disappointed Customers NeedCustomers who choose to contact you about a negative experience have three core needs. They want to: Be heard Be respected See prompt action to resolve their problemA...
Market Force Information recently fielded its annual customer experience (CX) benchmark study for quick serve and fast casual restaurants. Over 3,000 UK restaurant guests responded, providing input about their overall satisfaction with their dining experience and insight into what drove those ratings. Five categories were rated, including: Burger/steak/chicken grill Coffee/café/snack Pizza Pub/bar SandwichWithin each category, we competitively benchmarked performance for top...
In February, Forrester Research released its report titled “The Forrester Wave™: Insights Service Providers, Q1 2017 | Leaders Emerge in a Nascent Insights Services Market” written by Jennifer Belissent, PhD and Elizabeth Cullen. Forrester included Market Force Information® as a domain-specific insights provider in their consolidated vendor landscape. A graphic from this report recognises Market Force in an ecosystem of industry-specific, domain-specific,...

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