Customer Experience Matters Most When The Economy Is Doing Well
Unless you are part of the 1 percent with your stock portfolio climbing, you are probably not an American who factors your experience into which price you pay these days. A common belief is that the economy affects what one purchases and that is independent of income; all people feel nervous when the economy is doing poorly. Yet the authors find that the influence of the economy even impacts the degree to which consumers incorporate past service experiences into their future purchases - especially when the economy is doing better. Counter to popular wisdom that firms should double down on improving customer experience when economic times are challenging, the authors of a new paper find that firms should do so when times are good. read more