Importance of Product Quality to Consumers (W/ 7 Statistics)
Product quality is a crucial factor for business success. High-quality products keep customers happy and build trust in your brand
But just how important is product quality for business? And how does the quality of your products affect customer loyalty?
With that in mind, we’ll dive into key statistics that show why product quality is so important for businesses and consumers.
Must-Know 4 Statistics and Facts on Importance of Product Quality
- 74% of customers say product quality is the most important factor in keeping them loyal to a brand.
- 51% of consumers consider quality to be more important than price.
- 20% of product returns are due to defective or low-quality products.
- 63% of consumers are more inclined to spend money on quality items than on something that’s cheaper both in price and quality.
Sources: (First Insight, PR Newswire, Issuu, Lifesight)
Impact on Customer Trust and Satisfaction
Grasping how product quality affects customer trust and satisfaction is crucial for any business. The stats below show just how much a good product can boost trust and happiness. Check out these key numbers:
16.4% of customer trust is directly linked to the quality of the product.
53% of what makes customers happy is the product quality, and the rest, 47%, is due to other things.
Sources: (Issuu, EconJournals)
The importance of Product Quality on Customer Loyalty
Here’s why product quality matters so much for customer loyalty. The stats show that top-notch quality is key to keeping customers coming back, especially for Gen Z:
- 74% of customers say product quality is the most important factor in keeping them loyal to a brand. (Image)
- 57% of Gen Z shoppers linked quality to brand loyalty.
- 50% of Gen Z say quality drove their most recent purchase decision.
- 46% of customers become loyal if they like the quality early on.
