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Industry Research : CGS Survey Reveals Sustainability Is Driving Demand and Customer Loyalty

#contactcenterworld, @CGSinc

CGS, a global provider of business applications, enterprise learning and outsourcing services, announced the findings from its 2019 Retail and Sustainability Survey. The results showed that more than two-thirds of the respondents consider sustainability when making a purchase and are willing to pay more for sustainable products. Despite being a relatively new buying group, Gen Z[i] shoppers make up some of the most conscious buyers, with 68 percent having made an eco-friendly purchase in the past year.

CGS surveyed over 1,000 U.S. individuals (ages 18-65+) on how sustainable products and business practices are driving their buying preferences. Despite price still being a big factor in purchasing decisions, consumers are putting an emphasis on sustainability, and are also increasingly focused on shopping with brands whose mission they care about.


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Key findings from the survey include:

Buyers want sustainable products; and over one-third will pay 25% more for them

Across the U.S., businesses are taking action to implement more eco-friendly processes and products. For example, Patagonia developed Woolyester, a material that blends wool, polyester and nylon to use approximately 50 percent of waste materials. The reason for this eco-friendly trend? It is what consumers want. Nearly 70 percent of CGS survey respondents said that sustainability is at least "somewhat important" to them when making a purchase and 47 percent would pay more for a sustainable product.

Brands must revamp their strategies for cultivating customer loyalty

Brands are constantly looking for ways to retain customers – and with good reason. Studies have shown that customers that continue to support a brand over time will spend 67 percent more than new customers. But what’s driving brand loyalty? According to CGS survey findings, consumers are most likely to return to a brand for the product’s quality. However, the second highest reason consumers return to a brand is its sustainable/ethical business practices. Brand name and brand mission closely followed in third and fourth place, respectively. Consumers today must feel a connection to brands that goes beyond cost and easy availability to drive true loyalty.

Younger buyers are more eco-aware

While Gen Z is still a rising economic force, this generation is far more aware of the environmental effects of their purchasing decisions than their elders. The survey showed that Gen Z ranks ethical business/manufacturing as one of its top factors when purchasing, while the general public is more concerned about product price and availability. Yet, the general public is more likely to return to a brand based on the quality of the product, rather than sustainable practices. Additionally, more than 50 percent of Gen Z would be willing to pay more for a sustainable product, slightly higher than expressed by the general population (47.3%).

Sustainable apparel is only starting to become a priority

While recycling paper goods and plastics have risen in popularity since introduced in the 1970s, the EPA estimates that the average American throws away 81 pounds of clothing every year. The CGS survey found that only one-quarter of consumers care about sustainable apparel and footwear items, while almost half (42.5 percent) are concerned about eco-friendly paper goods. As fast fashion gains popularity, businesses and consumers need to be educated on eco-friendly apparel business practices to minimize apparel waste.

"Today’s buyers are driven by more than price – they’re looking for brands that align with their own values and needs," said Paul Magel, President, Business Applications division, CGS. "To create a loyal customer base, brands must be transparent about the materials and development behind their products. Our BlueCherry(R) software helps brands meet these demands and deliver on the promise of sustainability and transparency."

#contactcenterworld, @CGSinc

Posted by Veronica Silva Cusi, news correspondent
Source: CGS


About CGS:
Company LogoFor over 30 years, CGS has enabled global enterprises, regional companies and government agencies to drive breakthrough performance through business applications, enterprise learning and outsourcing services. CGS is wholly focused on creating comprehensive solutions that meet clients' complex, multi-dimensional needs and support clients' most fundamental business activities. Headquartered in New York City, CGS employs more than 7,500 professionals across North America, Latin America, Europe and Asia.
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Today's Tip of the Day - Train In Sensitivity

Read today's tip or listen to it on podcast.

Published: Wednesday, January 23, 2019

Printer Friendly Version Printer friendly version

2021 Buyers Guide Speech Technology

 
1.) 
Premium Listing
Call Center Studio

Call Center Studio
Call Center Studio is the world’s first call center built on Google and is one of the most secure and stable systems with some of the industry’s best reporting. It is one of the most full-featured enterprise grade systems (with the most calling features, one of the best call distribution, outbound dialing features and integrations—including IVR, AI Speech Recognition, blended inbound/outbound calling and includes Google’s new Dialogflow and Speech API. Call Center Studio is the absolute easiest to use (with a 10 minute setup), and is the price performance leader with lower equipment cost and less setup time.


2.) 
Agara

Agara is an autonomous virtual voice agent powered by Real-time Voice AI. It is designed to have intelligent conversations with your customers, vendors, and partners without any assistance from human agents. It can handle a wide variety of calls including inbound customer care calls, outbound lead generation calls, appointment scheduling calls, and overdue payment recovery calls.

Agara is available for several industries including banking, insurance, retail, e-commerce, airlines, and telecom. Powered by advanced Real-time Voice AI that understands speech in real-time, automatically determines the right process to follow and guides the caller along in the process with natural conversation.

3.) 
Call Tracking Metrics

Execute automated actions based on words spoken by your customer.

Our intelligent word detection and transcription tools make it easier for you to decipher the content of your customer conversations and automate action based on those insights.

Transform the audio of your calls into speaker-organized scripts so you can easily search your call log for specific words from a conversation, or automatically detect when words of intent are spoken by your customer.

Listen in on and highlight common patterns in order to execute triggers to initiate a new action or workflow, such as emailing a manager if the word “cancel” is spoken on a call. You can also set up to automatically redact content from a transcript, such as sensitive health information transmitted on a call.

4.) 
Daisee

Daisee
Daisee builds technology that empowers people to solve problems by making interactions simple and smart so they can have a more significant impact, be more productive and be better at what they do. We believe incremental improvements carry huge potency and provide exponentially greater change for the better.

Genesys customers can now automate risk and quality management using Daisee’s speech and sentiment analytics and remediation workflow software. Daisee helps improve customer experience, ensure regulatory compliance, identify missed commercial opportunities & training requirements as well as provide valuable insights back to the business directly from the frontline – the true voice-of-...
(read more)

5.) 
Eckoh

EckohASSIST
Advanced speech recognition and natural language expertise that routes callers by simply asking ‘how can I help you?’. It allows customers to use their own words to ask for what they want and steers them to the right place.

Menus are eliminated altogether and contact centres can use a single inbound telephone number.

6.) 
MattsenKumar LLC

SmartSpeech
SmartSpeech – The Best In Class Speech Analytics Software

An all-inclusive speech analytics application that enables you to visualize your audio using state-of-the-art speech recognition, transcription, and text analytics technologies.

7.) 
Nemesysco

InTone Suite - Emotion Detection via Voice Analysis
InTone™ is a voice analysis tool geared to detect genuine emotional and cognitive reactions regardless of the speaker’s language or chosen intonation.
It integrates into existing contact center environments and provides realtime indications of both client and agent emotional reactions throughout all ongoing calls. This unique set of indications assists managers and call center representatives to truly understand the client, improve call center performance, easily detect angry calls, elevate training efficiency and provide a tailored customer experience in every single call.

Nemesysco's contact center technology is also available in API and SDK forms.
Please visit our website for information about our product portfolio.

8.) 
Voci Technologies Incorporated

V-Blaze Speech to Text
Our GPU-accelerated, AI-based technology enables you to deliver greater insights to the contact center by transcribing audio into analyzable text.

- Transcribe large volumes of recorded audio quickly
- Integrate transcripts with your analytics or business intelligence platform
- Reduce your hardware footprint and minimize total cost of ownership

9.) 
Voxjar

Voxjar
Voxjar is your one-stop-shop for driving better phone calls with your customers. We're a modern Conversation Analytics and Call Coaching Platform.

- Custom Charts and Dashboards give you the freedom to analyze calls from the highest level down to the details of each conversation.

- AI-Powered Speech Analytics transcribes, searches, and analyzes your reps' phone conversations, at scale.

- Quality Assurance and Call Coaching tools let you evaluate and improve agent performance with a human touch.

- Long term recording storage for historical analysis


All of these together provide the holistic, easy-to-use software that you need to manage a modern call team and create better con...
(read more)
 

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