As Gas Prices Rise, Customer Satisfaction Falls on Automotive and Travel Web Sites
August 18 2008 - 10:07AM
Marketwired
iPerceptions Inc. (TSX-V: IPE), a leading provider of web-focused
Voice of Customer analytics, announced today that customer
satisfaction with automotive and travel web sites hit a 12-month
low in June 2008 as prices at the pump climbed to over $4.11 per
gallon nationwide. According to the iPerceptions Satisfaction Index
(iPSI), customer satisfaction declined from 7.54 to 7.30 on a
10-point scale between June 2007 and June 2008. Customer
dissatisfaction was also pronounced on travel web sites, where
satisfaction levels fell from 7.12 to 7.00 in the past 6 months.
The drop in customer satisfaction was accompanied by a sharp
reduction in hotel bookings as consumers scaled back travel plans.
The average number of nights spent in a hotel each year by leisure
travelers plummeted 28% between January and June 2008 from 14.7 to
10.6, and business travelers slashed their hotel stays per year by
25% from 31.4 to 23.6 over this same period.
Online consumers overwhelmingly cited budget concerns and
dissatisfaction with gas prices when asked for feedback during
their online experience. "I find it unbelievable with the price of
gas and the economy in the shape it is in that you are not making
exceptions to your two night minimum stay," stated one visitor to a
well-known hotel site. "Not the prices I was looking for," said
another. "In a day and age where traveling is getting harder and
harder to do because of gas prices, irrelevantly high priced hotel
rooms just isn't part of the plan anymore."
"Feedback from millions of visitors collected over the past year
demonstrates a clear negative correlation between gas prices and
customer satisfaction on automotive and travel web sites," said
Jonathan Levitt, vice president of marketing at iPerceptions. "As
the price at the pump has spiked, consumers are venting their
frustrations online. And it isn't just that satisfaction is hurting
-- measurable business outcomes are falling as well. In an
environment like this, it's critical that marketers tune into
changing consumer sentiment in order to pinpoint opportunities to
make small changes that can positively impact customer
satisfaction, conversion and sales."
About the iPerceptions Satisfaction (iPSI) Index
The iPerceptions Satisfaction Index (iPSI) is derived from 60
million satisfaction and experience datapoints obtained from over
four million actual website visitors in the context of their actual
site visits. The iPSI covers ten verticals, including automotive,
travel, and e-commerce. Based on research from Dr. Antonio Ciampi
of McGill University, the iPSI features a perceptual framework to
isolate and evaluate key elements of the visitor experience and
predictive algorithms and modeling to uncover the attributes with
the greatest impact on satisfaction. As a result, the iPerceptions
Satisfaction Index (iPSI) delivers the clearest and most accurate
understanding of the key issues impacting satisfaction, intent,
task completion and customer loyalty.
About iPerceptions
iPerceptions is one of North America's leading web-focused Voice
of Customer analytics providers. Its webValidator Continuous
Listening solution and Proprietary iPerceptions Satisfaction Index
(iPSI), turn thousands of data points into easy-to-understand
strategic and tactical decision support for website marketers.
iPerceptions' clients include such well-known brands as
InterContinental Hotels, General Motors, Dell Computers, Hyundai,
LG Electronics, Toshiba, Choice Hotels International, BMW and
Monster Worldwide. iPerceptions has offices in New York, Toronto,
Montreal and London, UK.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this press release.
Media information: Emily Brady Brady Public Relations Tel:
415-606-9350 Email Contact Investor information: Jerry Tarasofsky
Chief Executive Officer iPerceptions Inc. Tel: 514-488-3600 Fax:
514-484-2600 Martin Faucher Chief Financial Officer iPerceptions
Inc. Tel : 514-488-3600 Fax: 514-484-2600
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