The US “switching economy” represents about $1.3 trillion in revenues that are up for grabs across 10 industry sectors, according to a new Accenture study that analyzes switching rates and consumer spending forecasts. In fact, 51% of US consumers claimed to have switched service providers at some point during the past year as a result of poor customer service experiences, up from 46% in the 2012 survey. Remarkably, that’s one of the better regional results in the survey, which finds that globally, 66% of consumers reported having switched providers during the past year, up from 62% the year before.
in emerging markets were the most avid switchers, with 81% reporting having done so in the past year. By comparison, 54% in mature markets (including those 51% in the US) have switched providers due to poor experiences, up from 49% the year before.
The most affected industries in the US were consumer goods retailers (27% having switched), cable and satellite providers (11%) and retail banks (10%). Read the rest at MarketingCharts.