satisfaction in Thailand exceeds global average
consumers will increasingly expect great experiences across whichever channel
OutReach - 20 May
2021 - New research released today
from Qualtrics (Nasdaq: XM), the world's No.1 Experience Management (XM)
provider and creator of the XM category, reveals how consumer behaviour and
expectations are changing in Thailand, and the new experiences businesses
should provide to meet the needs of consumers today and in the future.
new study from the Qualtrics Experience Management
(XM) Institute, "2021 Thailand Consumer
Trends", examined the perspectives of 1,000 consumers in Thailand. The
study highlights how companies will need to rewrite their playbooks to deliver
great online, in-person, and hybrid experiences to attract and retain
the world and especially in Southeast Asia, we are seeing customer preferences
and expectations evolve at a rapid pace. If businesses are going to adapt and
thrive in this new environment, they need to understand the 'how' and 'why'
behind these shifting behaviours, and then use the insights to proactively
design and continually improve offline and online experiences for their
customers," said Harish Agarwal, Head of CX Solutions & Strategy for
Qualtrics in Southeast Asia.
research shows that consumers are not going back to the way things were," said
Bruce Temkin, Head of the Qualtrics XM Institute. "Consumers have adapted to a
new, digital-first landscape, and the experiences that they have with brands
across digital channels directly impact their purchasing decisions. In order to
be successful, organisations need to prepare for the future instead of trying
to recreate the past."
Study Highlights for trends in Thailand:
- Consumer satisfaction in Thailand exceeds the global average.
of consumers in Thailand (74%) said they were satisfied with their brand
interactions, in comparison to 66% globally. Health insurers (90%) and
streaming services (88%) delivered the highest levels of satisfaction, followed
closely by banks and parcel delivery services (both 85%).
- Consumers went digital, and most of them are not going back. Having embraced new digital
channels for most engagements during the pandemic, there is now a clear
differentiation between what behaviours consumers will continue to adopt and
which ones they will revert to - if at all.
○ Transactional and self-serve
engagements - including online retail and grocery shopping, using food delivery
services, online banking, contacting customer support, online education, and
streaming content - is expected to increase. Consumers also said they expect to
continue accessing medical advice online.
○ Respondents also said they
intend to continue participating in exercise classes or religious services
virtually, as well as catching up with friends and family.
- Customer service is the most important differentiator. Consumers are more discerning
than before about their purchasing choices, and organisations need to do more
than market the quality or price of their products and services: 36% of Thai consumers
would prefer to buy from an organisation that treats them well – the highest
globally. In comparison, 31% prioritise product quality in their buying
decision, followed by 25% who buy from companies giving back to society, and 9%
who value price.
- Consumers increasingly expect great experiences across
multiple platforms. Organisations need to invest in delivering quality customer
service and meet customers where they are - whether that's online, in-person or
somewhere in between: 40% expect to resolve support issues through self-service,
25% through online chat, 21% over the phone, and 15% in person.
- Satisfaction breeds trust and advocacy. Positive experiences inspire
greater levels of trust and advocacy among consumers. Consumers who have good
experiences with organisations in critical industries — such as education
systems, hospitals/medical clinics, and government agencies — are more likely
to trust them. And when consumers trust an organisation, they're more likely to
recommend them to friends and family, helping to attract new customers.
must continue to change and adapt to the changing consumer expectations in the
post-pandemic environment. To do that at scale, organisations will need
experience data - what consumers say they want and expect —to stay ahead of
customer expectations and design the experiences that attract and retain them.
The issuer is solely responsible for the content of this announcement.