Wilko.com, Superdrug, and Office, Leading retailers in the InternetRetailing UK Top500 (IRUK 500), record the highest sentiment in the IRUK 500 Brand Sentiment Tracker for the month of June. Supermarkets are among the most-talked-about retailers to be monitored by the Tracker, which also found a negative relationship between the amount of chatter and the general sentiment it conveyed.
Amazon [IRDX RAMZ] and Argos [IRDX RARG] are referenced in the most social chatter, revealed the Tracker, which was researched in collaboration with Clarabridge [IRDX VCLA]; these retailers also lead the Brand Engagement Dimension of the IRUK 500.
Elite retailer Mothercare [IRDX RMOC] had the smallest total volume of customer feedback, yet saw the highest sentiment of the 23 Elite and Leading Top500 retailers included in the Tracker. Mothercare customers’ feedback was especially positive about the retailer’s staff who, judging by the feedback, provide good quality advice. The aggregate sentiment from customer feedback is collated to form the Tracker, with the results in the chart below. Wilko.com [IRDX RWIL] customer reviews contained the most-positive average sentiment. Superdrug [IRDX RSUD], Office [IRDX ROFF], and Halfords [IRDX RHAL] also stand out for the positive sentiment covered by the Tracker.
“According to a seminal study titled ‘Advocacy Drives Growth’ by the London School of Economics, a seven point increase in customer satisfaction can lead to a one percent increase in revenue.” says Susan Ganeshan, Clarabridge CMO.
“For a retailer with $1B in annual revenue, that’s $10 million for every seven point increase. It’s clear that customer sentiment has a direct impact on revenue growth. To remain competitive, retailers need to find ways to understand customer pain points and effect change within the business.”
The Tracker reveals the sentiment associated with certain topics is largely positive or, conversely, negative. ‘Product design’ and ‘product selection’ were such majority-positive terms, with 92 percent and 75 percent of retailers, respectively, enjoying positive conversations with those key terms.
‘Order accuracy’, ‘damaged goods’, and ‘refund’, conversely, are terms associated with a generally negative sentiment for most retailers. Customers were most dissatisfied when mentioning ‘order accuracy,’ while ‘damaged goods’ was the term most frequently used in customer feedback expressing a negative sentiment for half the retailers in the study.
About the Brand Sentiment Tracker
The Brand Sentiment Tracker assesses publicly-visible customer feedback for 23 Elite and Leading retailers and is researched in collaboration with Clarabridge. Linguistic content is analysed to gauge sentiment, with ‘positive’, ‘negative’, or ‘neutral’ scores assigned to feelings expressed in the text. The Tracker is updated periodically, with some posts focussing on improvements and turn-arounds in sentiment, and others covering overall sentiment trading in different periods.