Best Buy Ranks Highest in Customer Satisfaction for Second Consecutive Year
COSTA MESA, Calif.: 11 July 2018 — Best Buy ranks highest in customer satisfaction among appliance retailers for a second consecutive year in a growing consumer market that is expected to reach $23.5 billion in 2018, according to the J.D. Power 2018 Appliance Retailer Satisfaction Study.SM
Now in its 11th year, the study measures customer satisfaction with appliance retailers by examining six factors (in order of importance): sales staff and service; delivery and installation service; store facility; sales and promotions; price; and merchandise.
Following are some key findings of the 2018 study:
- Retail and sales associate engagement: Only slightly more than half (57%) of customers spoke with a sales associate at length about the products. Satisfaction is significantly higher among customers who spoke with a sales associate at length rather than briefly or not at all (869 vs. 821, respectively, on a 1,000-point scale).
- Salespeople make a difference: The top key performance indicator (KPI) that has the highest effect on satisfaction is when the sales staff thoroughly explains products and features. There is a significant association with likelihood to repurchase and recommend. When the KPI is met, 38% of customers say they “definitely will” repurchase from the retailer vs. 14% when the KPI is not met.
- Satisfaction drives loyalty: Among delighted customers (overall satisfaction scores of 901 and above), 57% say they “definitely will” repurchase from the retailer, compared with the overall study average of 35%. Additionally, 67% of delighted appliance retailer customers say they “definitely will” recommend the retailer to others, compared with the overall study average of 40%. Furthermore, among delighted customers, the average number of positive recommendations is 4.0, compared with the overall study average of 2.6.
Best Buy (869) ranks highest in customer satisfaction among appliance retailers and performs particularly well in five of six factors contributing to overall satisfaction. Lowe’s (855) ranks second performing particularly well in delivery and installation, followed by The Home Depot (841). Overall satisfaction with appliance retailers in 2018 is 848, up from 838 in 2017.
The 2018 Appliance Retailer Study is based on responses from 2,948 customers who purchased major kitchen and/or laundry home appliances from a multiregional appliance retailer within the previous 12 months. The study was fielded in March 2018.
For more information about the J.D. Power Appliance Retailer Satisfaction Study, visit http://www.jdpower.com/resource/us-appliance-retailer-satisfaction-study.
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power is headquartered in Costa Mesa, Calif., and has offices serving North/South America, Asia Pacific and Europe. J.D. Power is a portfolio company of XIO Group, a global alternative investments and private equity firm headquartered in London, and is led by its four founders: Athene Li, Joseph Pacini, Murphy Qiao and Carsten Geyer.
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