New Study Shows Consumers are Less Patient than Ever; Businesses are Falling Behind

Six-Time bestselling author Jay Baer's new study proves that speed and response time is the most important component of the customer experience

NEW YORK, Nov. 10, 2022 /PRNewswire/ -- A comprehensive new research study illustrates that American consumers care more about time than ever before.

"All the trends like quiet quitting, the great resignation, leisure travel, work from home, and work/life balance are all driven by the one BIG trend: we care more about our time and how we spend it," says study author and customer experience expert Jay Baer."

Key findings from Baer's Time To Win: The 2022 Customer Patience Study (with a few surprises):

• 2/3 of consumers say SPEED is as important as PRICE
• 83% of consumers expect businesses to be as fast or faster than they were before the pandemic
• More than half of customers have hired the first business to respond, even if they were more expensive
• Half of all consumers are less likely to spend money if a business is slower than they expect
• Gen Z is likely to feel "respected" when a brand responds quickly
• Half of all customers will not wait more than 3 minutes in a store
• Responding to customers faster than they expect creates meaningful loyalty and revenue improvements for businesses
• Baby Boomers are the LEAST patient generation. Gen Z is the MOST patient generation

This is the most comprehensive national survey ever undertaken about consumer patience and business responsiveness.

The study can be downloaded in its entirety at The Time to Win. 

"Post-pandemic, customers have come to realize that we each have just 1,440 minutes each day. Now, when interacting with a business takes longer than we expect it to, it feels like time has been stolen from us. And when business is faster than we anticipate, it feels like we've been given the gift of time," said Baer.

"This study indicates companies would be wise – and would benefit economically to focus on satisfying customers' need for speed."

If you would like to speak with Jay and discuss any aspect of the study, please reach out to:

Dennis Welch
Articulāte PR and Communications
Phone: 713.885.8722
Email: [email protected]

SOURCE Articulate PR and Comm

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