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Global brands setting up base in India have managed to de-code and deliver to the personalised expectations of consumers. Mega brands such as Amazon, Hyatt and Adidas are changing the benchmarks for a superior customer experience and, at the same time, tweaking their global business models to suit the Indian market, finds a recent study.
Global brands may have fared better in sectors such as entertainment and leisure and logistics, but Indian brands have outshone in sectors like travel and hotels, telecom and restaurant and fast food. This is the finding of a KPMG survey of 2,508 consumers across 108 brands in nine sectors in the Indian market.
Pointing out that the Indian consumer’s psyche has changed, Aditya Rath, Partner, Customer and Channel, KPMG in India, told BusinessLine that the influx of global mega brands and technology start-ups has given rise to a phenomena of expectation transfer, “where outstanding performance by one brand raises the bar and sets a standard for other brands.”
Some of the top performers, Taj Hotels Resorts and Palaces, Barbeque Nation and Tanishq, rank high in the Indian customers’ experience set.
“India has an incredibly diverse population and brands need to cater to a wide range of consumers from a myriad of backgrounds, cultures and varying sensibilities,” continued Rath. “The winners are those organisations which appeal to a customers’ core values, create differentiation and reduce friction in the purchase cycle, and build a strong customer experience,” he said. KPMG’s survey findings suggest that Indian customers most value personalisation followed by integrity. “Brands that are front runners in these pillars stay ahead of competition by recognising the individuality of their customers, adding a personal touch, engendering a feeling of trust and tailoring their experiences accordingly,” Rath added.
Interestingly, though customers rank personalisation as one of the highest drivers in their customer experience journey, only 20 per cent of Indian CEOs surveyed address high customer expectations for personalised services.
“Customer experience is the new front-line in the competition to win over today’s customers. In this digital age, happy customers soon become powerful social advocates for your business,” Rath added.
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