Myer customer satisfaction levels reach two year high

Monday November 16, 2009

Myer department store has received it highest customer satisfaction rating in two years according to an independent report.

Roy Morgan Research found that Myer department stores received an overall customer satisfaction rating of 88.3 percent, an increase of 1.8 per cent from one year ago in October 2008. Although it should be noted the rival David Jones also reported an increase of 1.3 per cent for the same time period, taking its overall customer satisfaction rating to 91 per cent.

This improved rating for Myer has been attributed to improved service but with some industry experts thinking that the highly successful Myer share offer may have also impressed customers.

The Retail Satisfaction Report from Roy Morgan Research looked into more than 70 retailers across various industries, and showed that the two major department stores have now reached their highest approval ratings in over two years.

When it comes to the level of satisfaction by customers, it was the Myer One Loyalty cardholders that had the highest approval ratings with 90.3 per cent choosing either ';very satisfied' or ';fairly satisfied' when asked about their visits to a Myer store over the last four weeks. This supports the theory that the Myer share offer has influenced the positive opinions as Myer One Loyalty cardholders are open to join the share offer and benefit from the company's listing.

Roy Morgan Research Industry Communications Director, Norman Morris, stated that Myer had produced a significant turnaround in customer satisfaction over the last 12 months.

"Myer One customers already have a strong pre-disposition towards owning shares, with a substantially higher level of direct share ownership than the population average (36.9 per cent compared to 26.4 per cent).'

"The high level of share ownership amongst this group, combined with the very high satisfaction level with Myer (90.3 per cent for Myer One cardholders) shows that they have confidence in the brand, which augurs well for the Myer share offer, providing the price is right."

When it comes to the Myer share offer, the month of October marked most of the notable dates and announcements including Retail Offer and Noteholder Exchange Offer opening, Institutional Offer opening and the Pricing and allocation announcement.

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