Singapore consumers willing to pay more for good service

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Consumers in Singapore ranked second in the world, behind India, in terms of willingness to pay more for good service, according to a new survey released on Wednesday (Dec 3).

Commissioned by American Express, the poll found that 77 per cent of local consumers are willing to pay up to 14 per cent more for excellent service.

Among those polled, 75 per cent have actually spent more with a company after receiving good service in the past.

Word of bad service also gets around, with 54 per cent of respondents saying they would share with others their poor experiences.

When considering which firm to do business with, 20 per cent of respondents ranked excellent customer service as the most important factor.

About 35 per cent said they would do business with a new company based on positive word-of-mouth recommendations. But if they experienced poor service the first time, 38 per cent of respondents said they would not return to do business with a firm.

The survey involved about 1,000 consumers and was conducted between end-August and early-September this year.

Consumers polled defined good customer service in terms of speed, precision and personalisation.