According to a new Ovum survey commissioned by STELLAService, the value of great online customer service in 2010 is USD $17.3 billion. The survey derived the dollar impact of great customer service by consumer category (i.e. financial services, healthcare, utilities, brick and mortar retailers, online retailers, etc.). It determined that the total value of great customer service across all consumer categories is USD $268 billion per year. On average, the survey found that Americans are willing to spend approximately 9.7% more for great customer service. The survey, however, paid particular attention to the way in which great service impacts the buying decisions of online consumers. It was concluded that consumers in the online retail category are willing to pay an even higher premium for great service (10.7%) than they would in most other categories. Based on the average amount spent by online consumers each year, the survey found that $17.3 billion of value can be created in 2010 by Internet retailers that offer excellent customer service. Due to the seemingly distant and remote nature of online shopping, it makes sense that consumers would pay a higher premium to have the comfort and peace of mind that they will be taken care of in the case of a serious question, concern or problem.
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