The folks at the American Customer Satisfaction Index have released their latest report on the banking industry and for the sixth year in a row, credit unions and small banks have outscored all the large financial institutions. And for the second consecutive year, Bank of America is bringing up the rear. [More]
Earlier today, the lovely folks at the American Customer Satisfaction Index released their latest data for airlines and fast food restaurants. And judging by the companies that came in last in each category, being the biggest doesn’t make you any better.
The folks at the American Customer Satisfaction Index have released their annual report on the various elements of the information sector. And it probably won’t come as a surprise to Consumerist readers that AT&T’s wireless division and Comcast each brought up the rear in their respective fields.
The American Customer Satisfaction Index (ACSI) dropped again for the second consecutive quarter to 74.9. Why does this matter? “When customer satisfaction declines, consumers have less enthusiasm for repeating experiences that no longer provide the same gratification,” says Professor Claes Fornell. AKA, they’ll be spending less money.
The American Customer Satisfaction Index has released its latest scores of retail businesses, so we thought we’d take a look at the department store rankings by constructing a handy graph. When it comes to customer satisfaction, apparently Dollar General is doing something right—and Wal-Mart, as usual, is doing lots of things wrong.
DirecTV is jacking up rates by 4% as of February 27 and is reminding newly disgruntled customers that DirecTV still ranks higher than cable according to the American Customer Satisfaction Index. Most customers can expect a $3-$5 increase, but don’t count on award-winning customer service.
The IRS is celebrating the results of an AP poll that ranks the TSA as the most hated arm of the federal government. More than anything, Americans apparently hate being inconvenienced by seemingly pointless and arbitrary security checks.
The AP poll, conducted Monday through Wednesday, found that the more people travel, the less they like TSA.
Mainly driven by higher food prices, the American Customer Satisfaction Index went down for the first time in two years of continual growth. The blip was minus .1%, still up 1% from a year ago. [ACSI]
Does higher customer satisfaction lead to better stock performance?
Based on your suggestions, we redid The Consumerist ACSI fund mock portfolio. We changed it from 100 shares to $1000 worth of each company, rounded down to whole shares. This way the highest stocks won’t have an undue influence on the portfolio’s performance.
We made a mock portfolio buying 100 shares of companies scoring high on the American Customer Satisfaction Index (ACSI).
Using a back-tested paper portfolio and an actual case, the authors of a study published in the Journal of Marketing found that companies at the top 20% of the the American Customer Satisfaction Index (ACSI) greatly outperformed the the stock market, generating a 40% return.
We’re obsessed excited by this ACSI data so let’s slice it another way!
Here are the winners and losers on the American Customer Satisfaction Index for industries of particular interest to Consumerist readers. The scores are out of 100. Format is company name (score, difference from last year’s score).
But if the increase in quality is minor and ACSI growth is driven mostly by lower prices, or an absence of price increases, satisfaction becomes vulnerable to more volatility because prices change much quicker than quality…. Pricing power depends on upward shifting demand curves. But an upward shift is unlikely unless there is shrinking supply or higher levels of buyer satisfaction. There are no signs of the former in most industries, so the latter becomes more critical.
Good product quality and customer service and starting to look like a savvy business decision yet? — BEN POPKEN
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?
A survey of 10,000+ consumers ranked the best and worst shopping sites during the the 2006 holiday season.