Jan 31, 2023
By: Srishti MaganHuman engagement consulting firm Terragni Consulting released its EAS (Effort Assessment Score) Index 2023 report that assesses the effort or “friction” that customers experience when engaging (online and offline) with a brand across retail, e-commerce, banking and insurance sectors.
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Ineffective messaging, lack of visibility and control, and multiple attempts to find the right product or service take the fun out of shopping. As per the report, Banking is the most difficult sector to shop in, while retail is the easiest.
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With e-commerce, customers are spoilt for choice and constantly chasing a better deal. Thus, finding the right product and getting the right customer support are areas that lead to the most stress among customers.
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Flipkart, Myntra, Amazon, Big Basket, and Zomato were among the easiest brands to shop at in the e-commerce sector. Though not as easy, Grofers and foodpanda also made it to the list.
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In retail, returns and in-store support remain major pain points. Because customers see and feel a product before buying, returning or replacing it induces greater stress, especially if it requires an additional physical trip to the store.
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In the retail sector, Pantaloons, Dmart, Big Bazaar, Reliance Trends and Lifestyle were the easiest brands to shop at. Though they didn’t offer the same ease, other notable brands included were H&M, Marks & Spencer, Zara, and Forever 21.
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Net banking has certainly made it easier to apply for loans, credit and debit cards, or transfer money, but it hasn’t changed the perception of banking being difficult. Finding the right information and issue resolution continue to remain extremely effortful for customers.
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Kotak Mahindra Bank, Union Bank of India, ICICI Bank, State Bank of India (SBI) and Punjab National Bank (PNB) were considered to be the five easiest brands for banking.
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Despite the ease of premium payment, customers still struggle with establishing the relevance of insurance, approaching it as a “necessary evil”, and not a desired goal, states Terragni.
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In the insurance sector, SBI Life, Max Life Insurance, LIC, ICICI, and Tata AIG were considered the easiest brands.
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