Retail and Finance Leading Overall UK CX Improvements

June 27, 20193min

British brands are slowly but steadily improving their Customer Experience, with retail and financial services continuing to lead the way, according to KPMG Nunwood. 

Their new report, Power to the People, stresses the vital role employee engagement plays in improving Customer Experience, with the report’s authors highlighting the close correlation between the two. Moreover, the vast majority of this year’s top performers have made conscious efforts to improve Employee Experience throughout their business, recognising the impact it has on the customer.

Now in its tenth year, the Customer Experience Excellence (CEE) analysis reveals the second year of improved performance, with the overall CEE score increasing from 7.13 in 2018, to 7.21 this year. This follows a record low of 7.08 in 2017, when brands very visibly struggled to keep pace with what customers expected of them.

Looking at the aspects which define Customer Experience – what KPMG Nunwood terms The Six Pillars (personalisation, integrity, expectations, resolution, time and effort, and empathy) – the latest findings suggest that meeting, managing, and surpassing customer expectations, as well as achieving a better understanding of their circumstances, is where the most improvement has been felt by consumers.

Tim Knight, Partner at KPMG Nunwood said: “This year, we see an increasing number of brands getting real returns from their hard work to improve their customers’ experiences, after many false starts and a record low in 2017.  However, keeping pace with rising customer expectations continues to be extremely tough.

“Cross-category leaders are setting new levels of performance, raising the bar for everyone, regardless of sector.  This year’s research shows that it’s those brands with the most motivated employees that are best reacting to change, whilst also generating the best returns for shareholders.”

Brands Monzo, Lush, John Lewis Finance, and Richer Sands secured the top-spots in this year’s ranking. Meanwhile, Mothercare, Green Flag, Yo! Sushi, Pizza Express, and Prudential were this year’s biggest upward movers.

Non-grocery retail, grocery retail and financial services have been the sectors to consistently perform best, however this year’s analysis saw utilities and the public sector note the biggest improvements, with a three percent and four percent increasing their CEE scores respectively.

Paul Ainsworth

Paul Ainsworth

Experienced Irish journalist and former newspaper editor now helming executive editorial duties with Customer Experience Magazine, the UK's premier online source for Customer Experience news, features, and opinion, along with its sister site, CXM World.

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