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03.16.09 Customer Satisfaction Sees Slight Increase  By Mike SachoffCustomer satisfaction with the goods and services that Americans buy improved in the fourth quarter of 2008, according to the American Customer Satisfaction Index (ACSI). Close to the end of the 2001 recession, an uptick in ACSI reflected that a rebound in the economy was near. As the current recession has deepened, consumer behavior has changed much more than in earlier economic slowdowns. Consumer spending has continued to weaken while savings have gone up. "For consumer spending to rebound, two conditions must be met: consumers must be favorably disposed to spend and have the means to spend," said Professor Claes Fornell, head of the ACSI and author of The Satisfied Customer: Winners and Losers in the Battle for Buyer Preference. "The good news from ACSI is that the first condition has been met: customer satisfaction is looking up. But it remains to be seen to what extent the government stimulus plan will help translate stronger satisfaction into increased consumer demand."
Customer satisfaction becomes even more important to individual companies, as they need to retain customers and compete for shrinking dollars. It will also be in the public interest to find out if companies that receive taxpayer money can improve quality, service and satisfaction of their customers. Customer satisfaction with the retail sector, which includes department and discount stores, specialty retail stores, supermarkets, gas stations, and health and personal care stores, gained 1.3 percent to 75.2. "Cost-cutting that adversely impacts customer satisfaction isn't a cure," said Fornell. "It may provide short term earnings relief, but having dissatisfied customers take their business elsewhere is making the problem worse." The finance and insurance sector improved slightly, up 0.7 percent to 76.0, erasing a corresponding deficit from a year a go. Healthcare insurance gained 3 percent to a score of 73, led by similar e percent improvements for the Blue Cross Blue Shield Association (73) and WellPoint (68). Healthcare costs continue to increase at a fast pace, but service has improved customers say.
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