An SAP report says, 9 out of 10 Indian consumers likely to switch to a competition brand in case of unsatisfactory digital experience. The Report Establishes a Need for digital business leaders in the Country
SAP unveiled the India Digital Experience Report, which revealed how India’s best known brands can jeopardize customer loyalty over an unsatisfied digital experience. The report states that only 8 per cent of customers unsatisfied with their digital experience would continue to remain loyal to the brand.
SAP’s India Digital Experience Report highlights how some of the country’s largest brands perform in delivering digital experiences to their customers.
Digital experiences can make or break a brand in today’s era and a strong digital infrastructure is imperative for any brand to remain relevant for its audience. The report further finds how a significant digital gap exists between the best and worst performing brands across all markets in Asia Pacific Japan.
Industry reports state that India’s economy is expected to grow from USD 2 Trillion to USD 10 Trillion by the year 2030. “Digital transformation will be crucial for accelerating the growth of India’s economy,” said Deb Deep Sengupta, President and Managing Director, SAP Indian Subcontinent. “The report corroborates the need for the industry to identify ‘Digital Business Leaders’ who can address the digital experience that businesses provide to their customers. SAP feels proud to be associated with these ‘Digital Winners’ who have embraced a digital mindset and a will to succeed in this digital economy.”
Key findings from the report:
- Only 8% Customers Unsatisfied with Digital Experience would continue to remain loyal to a brand
- On average, consumers delighted with the digital experience are 5 times more likely to disclose information with organizations across industry
- A significant digital gap exists between the best and worst performing brands across all markets in Asia Pacific Japan
- The gap between the highest and lowest scoring brands was 60 per cent points
- 59 per cent of consumers were delighted and 15 per cent unsatisfied with their digital experience
- India achieved a digital experience score of 44 per cent
- Automotive was the top performing sector followed by Banking
- Lagging in digital experience are Telcos, Utilities and Government