Customer Satisfaction At All Time High

Consumers, you’re satisfied? From CNN Money:

University of Michigan’s American Customer Satisfaction Index (ACSI) increased to an overall 74.9 score out of 100 in the fourth quarter of 2006, its highest level since the survey first started in 1994. That’s a gain of almost 2 percent from the previous year and a 0.7 increase from the previous quarter.

So who is winning and who is losing?

Home Depot raised their score, while Lowe’s dropped 5.1%. Lowe’s is still winning overall. “Elsewhere, consumers tabbed wholesale club operator Costco with the highest satisfaction numbers among retailers, while electronics seller Best Buy had the biggest jump in its score.”

In banking, Wachovia was the clear winner for the sixth year in a row. —MEGHANN MARCO

Customer Satisfaction Hits All Time High [CNNMoney]

(Photo: tellumo)


Edit Your Comment

  1. shoegazer says:

    Who are these satisfied customers and where can I get whatever is in their drinking water?

  2. B says:

    I wonder if high customer satisfaction is merely a result of lowered expectations.

  3. eriksanerd says:

    Being a student at Michigan State University, I trust no study to come out of the University of Michigan.

    But I agree, “satisfaction” is so subjective it could just be as much as a lowering in expectations, or maybe people are thinking of the smiling, well kept employees in the commercials instead of the snobby minimun wage workers that you truly get.

    This more says that people “think” things are better as opposed to that things “are” better.

  4. JRuiz47 says:

    By “Best Buy had the biggest jump in its score,” you mean “off a cliff,” right?

  5. I could never handle Costco. Great Prices, long ass lines. Always painful checkout experience.

  6. Do2 says:

    I guess these satisfied Wachovia customers have not opened their new statement with a brand new $5.95 charge for using Microsoft Money or Quicken for “Free Checking” accounts. No… you have to be in debt to them to use these for free.

  7. TedSez says:

    I’m actually a big fan of Costco… But I wonder if its high satisfaction ratings stem from how well they’ve managed to lower our expectations. We go in there thinking that the long lines, constantly shifting stock and lack of employees on the floor to help with anything are just par for the course.

  8. Do2 says:

    In the latest Wachovia fiasco, I opened up a credit card account to go with my checking account. Now they charge you $8.00 to make 2 phone calls per month into the CSR office. Note, I called 3 times because the CSR could not manage to open a credit card account (it was the weekend).
    This saga continues…. keep you posted.