NPS Prism reveals America's customer loyalty leaders in its latest U.S. Benchmark Report
NPS Prism, Bain & Company's customer experience benchmarking service, shows USAA, T-Mobile, YouTube TV, and H-E-B are among the nation's top-rated companies by their customers
NEW YORK, Feb. 21, 2024 /PRNewswire/ -- NPS Prism®, Bain & Company's customer experience (CX) benchmarking service, reveals America's customer loyalty leaders in its latest U.S. Benchmarks Report, The research measures Net Promoter ScoreSM, a widely used metric of customer sentiment and loyalty, using a double-blind survey of thousands of customers to assess more than 1,000 companies across 10 industries. The result is the most comprehensive, unbiased customer loyalty leaderboard available on the market. The companies below received the highest rankings in their sectors.
Consumer Banking:
Checking & Savings: Navy Federal Credit Union and USAA
Credit Card: Navy Federal Credit Union
Payments: Afterpay
Wealth Management: Edward Jones
Insurance (Life, Home & Auto, and Annuities): USAA
Auto: Lexus
Utilities: SRP
Telecommunications & Media:
Mobile: MintMobile and Consumer Cellular
Internet: T-Mobile
Video: YouTube TV
Retail:
Pharmacy: Local independent pharmacies
Convenience: Amazon
Grocery: H-E-B
Home Improvement: Sherwin Williams
A number of trends informed these rankings.
Payments providers: Ease becomes the key differentiator to win loyalty. Payment solutions like peer-to-peer (P2P) and buy now, pay later (BNPL) have continued to see increased usage since 2021 and, with that, higher customer expectations.
Utilities: Communication and transparency crucial to shaping CX amid rising costs. The impact of inflation and pricing on utility customer sentiment depends on critical factors, such as proactive communication and consistent transparency relating to rate changes.
Telecommunications: Offer and plan simplicity, and digital-first experiences, drive satisfaction. Despite the traditional 'big 3' providers enticing customers more than ever with new phone promotions, Mint Mobile has become a leader in its own way through driving simplicity in all experiences.
Home improvement stores: CX contingent on convenience and staff expertise across all channels. The US home improvement product captures retailers that cater to DIY consumer needs, and retailers like Sherwin Williams have established leadership due to the convenience of their brick-and-mortar locations and the expertise customers are offered. Leading retailers excel with 25% more customers citing knowledgeable staff interactions, emphasizing the value customers find in expertise.
Convenience stores: Proximity and product availability key to success. The convenience industry is comprised of various types of retailers, including traditional convenience stores, retail pharmacies, grocers, and online players. Industry leaders were Wawa and Amazon, while other traditional convenience stores and retail pharmacies are less competitive.
Pharmacies: Leaders prioritize CX through knowledgeable staff and personalized service. In a competitive pharmacy landscape, local independent pharmacies and Publix emerge as industry leaders as they shift focus to personalized customer experience. Local independent pharmacies are well positioned to win in this space, as helpful and knowledgeable staff hold great significance in influencing CX.
The methodology behind these scores comes from Bain & Company, the creators of NPS. NPS gauges customers' willingness to recommend a company, product, or service on a scale of 0 to 10. This report summarizes each industry's key customer sentiment metrics, including relationship NPS (rNPS), which captures the overall customer sentiment about a particular brand, and/or product NPS (pNPS), which measures customer satisfaction at the product level. Learn more about NPS Prism's methodology here.
Editor's Note: To arrange an interview, contact Katie Ware at katie.ware@bain.com or +1 646 562 8107.
About Bain & Company
Bain & Company is a global consultancy that helps the world's most ambitious change makers define the future.
Across 65 cities in 40 countries, we work alongside our clients as one team with a shared ambition to achieve extraordinary results, outperform the competition, and redefine industries. We complement our tailored, integrated expertise with a vibrant ecosystem of digital innovators to deliver better, faster, and more enduring outcomes. Our 10-year commitment to invest more than $1 billion in pro bono services brings our talent, expertise, and insight to organizations tackling today's urgent challenges in education, racial equity, social justice, economic development, and the environment. We earned a platinum rating from EcoVadis, the leading platform for environmental, social, and ethical performance ratings for global supply chains, putting us in the top 1% of all companies. Since our founding in 1973, we have measured our success by the success of our clients, and we proudly maintain the highest level of client advocacy in the industry.
NPS Prism® is a registered trademark of Bain & Company, Inc., NICE Systems, Inc. and Fred Reichheld. Net Promoter ScoreSM is a service mark of Bain & Company, Inc., NICE Systems, Inc. and Fred Reichheld.
View original content to download multimedia:https://www.prnewswire.com/news-releases/nps-prism-reveals-americas-customer-loyalty-leaders-in-its-latest-us-benchmark-report-302067087.html
SOURCE Bain & Company
