New Qualtrics study reveals what Singaporean consumers want in the post-pandemic world
SINGAPORE - Media 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 Singapore, and the new experiences businesses should provide to meet the needs of consumers today and in the future.
The new study from the Qualtrics Experience Management (XM) Institute, "2021 Consumer Trends in APAC", examined the perspectives of 1,000 consumers in Singapore. The study highlights how companies will need to rewrite their playbooks to deliver great online, in-person, and hybrid experiences to attract and retain customers.
"Across 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.
"Our 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 Singapore:
- Consumer satisfaction in Singapore exceeds the global average. Three-quarters of consumers in Singapore (73%) said they were satisfied with their brand interactions, in comparison to 66% globally. Grocery stores (76%), and medical clinics (76%) both delivered the highest levels of satisfaction, followed closely by banks and streaming services (both 75%).
- 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.
- ○ Consumers in Singapore are going back to face-to-face engagements for more personal interactions, such as exercise classes and religious services, or catching up with friends and family.
- ○ 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.
- Customer service is an 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: 19% of consumers would prefer to buy from an organisation that treats them well.
- 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: 30% through self-service, 28% of consumers expect to resolve support issues over the phone, 25% in person, and 17% through online chat.
- 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.
Organisations 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.
- Full version of the global report: 2021 Global Consumer Trends
- Learn more about Qualtrics for customer experience: www.qualtrics.com/customer-experience/
Qualtrics, the world's No. 1 Experience Management (XM) provider and creator of the XM category, is changing the way organizations manage and improve the four core experiences of business––customer, employee, product, and brand. Over 13,500 organizations around the world are using Qualtrics to listen, understand, and take action on experience data (X-data™)––the beliefs, emotions, and intentions that tell you why things are happening, and what to do about it. The Qualtrics XM Platform™ is a system of action that helps businesses attract customers who stay longer and buy more, engage employees who build a positive culture, develop breakthrough products people love, and build a brand people are passionate about. To learn more, please visit qualtrics.com.