Americans continue to reward companies that get service right. US consumers say they’re willing to spend 17% more to do business with companies that deliver excellent service, up from 14% in 2014. As a group, Millennials are willing to spend the most for great care (21% additional), followed by men (19%).

But there’s another side to that coin, too: poor service is costing companies. More than half of Americans have scrapped a planned purchase or transaction because of bad service, and 33% say they’ll consider switching companies after just a single instance of poor service. The stakes remain high for getting service right.

Millennials are particularly happy with the service they’re receiving from businesses—84% of respondents say that businesses are “meeting” or “exceeding” their service expectations, significantly more than older Americans (79%).

Millennials are also the only generation that tells more friends and family about instances of good service than bad ones, bucking an established trend in how Americans talk about service.

Sourced through Scoop.it from: www.brandchannel.com