According to the 2018 Temkin Experience Rankings, Ace Hardware and Dollar Tree provide the best customer experience in retail, a benchmark that measures companies’ customer service based on 10,000 U.S. customers. Ace Hardware and Dollar Tree were tied for first place among the 49 retailers that were included in the ratings. The scores of each retailer were 82 percent, and they placed seventh out of 318 companies in 20 industries. Temkin Group surveyed American consumers about their experiences with companies in order to generate these ratings. They were asked to rate the company on three dimensions: success (can they do what they want? The company’s effort and success. ); effort (how easy is it to work with the company? The three scores were then combined by Temkin Group to create each company’s experience rating. The average retail industry rating was 74 percent, which is third out of 20 industries. These ratings are based on a 70 percent to 80 percent score, which is considered “excellent”, and below 60 percent being “poor.” The top 10 retailers with the best overall customer experience scores were Family Dollar (81%), BJ’s Wholesale Club (80%), Amazon.com, Menards and PetSmart (79%), True Value, Walgreens, Dollar General (78%).
Total Retail’s Take It’s no surprise that Ace Hardware and Dollar Tree rank high for customer satisfaction. Ace Hardware has been recognized for its customer satisfaction over many years. Recently, the J.D. The J.D. Power 2017 U.S. Home Improvement Retailer satisfaction Study ranked Ace Hardware as “highest customer satisfaction among home improvements retail stores” for the 11th consecutive year. Ace Hardware also launched the Ace Center for Excellence in 2015. This division was created to improve customer service using Ace’s award winning approach. The Ace Center for Excellence presents keynotes and workshops that share the strategies and principles that enable leaders to cultivate a culture that exceeds consumers’ evolving expectations of helpfulness.
Dollar Tree is so beloved by its customers that it has largely escaped competition from online retailers. Why? It is mainly because of its low prices and convenient location of its discount shops. Dollar Tree stores are a popular choice for low-income customers and they have the advantage of being the dominant retailer in rural areas, where other big-box retailers would not open new stores due to their low population density. Dollar Tree’s success is also dependent on its convenience. It sells staples for consumers that are more convenient than online.
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Two Mall Owners Join Forces to Stop Bon-Ton from Closing Its Stores
According to court documents filed Monday and reviewed by CNBC , Namdar Realty Group and Washington Prime Group, the U.S. mall owners will compete to save Bon-Ton department store chain from liquidation. They will also be working closely with DW Partners, an alternative asset manager. Last week, it was reported that the landlords were looking to buy the struggling retailer from bankruptcy. Bon-Ton is a tenant at Washington Prime’s as well as Namdar’s properties. It also operates other mall-based chain stores like Carson’s, Younkers, and Herberger’s. Bon-Ton was approved by its lenders earlier this month to extend the deadline for qualified bids. An auction has been set for April 16.
Total Retail’s View: In fear of more vacant properties, Washington Prime Group (Namdar Realty Group) is taking matters into its own hands and trying to buy Bon-Ton’s shops. The mall owners have an interest in ensuring that Bon-Ton’s stores are open. Mall owners are trying to save their stores, with mall traffic declining and vacancies at the top. It is not unusual for mall owners to come together and save a retailer’s stores from being closed. Simon and GGP offered $240 million to save Aeropostale’s stores from being liquidated. Malls are trying to reinvent themselves as more than shopping centers. But, it is clear that stores will still be the main draw. Washington Prime Group and Namdar Realty Group have submitted bids for Bon-Ton.