Customer Experience Excellence report 2022

Customer Experience Excellence report 2022

As digital transformation continues to disrupt the Thai market, brands must balance ESG demands while they navigate a return to pre-pandemic spending. Against a backdrop of rampant digital transformation – galvanized by the COVID-19 pandemic—and with environmental, social and corporate governance (ESG) a central challenge for brands across all sectors—many organizations are undergoing rapid change to better meet the needs of an environmentally conscious, digital-first customer.

The financial services sector continues to top the customer excellence rankings in Thailand for 2022. In the aftermath of the COVID-19 pandemic, the accelerated pace of digitization within the financial services industry in Thailand has highlighted gaps in customers' digital journeys, and organizations have been quick to react.

The growth of digital ecosystems in which banking institutions are key players has broadened their service capabilities to meet the changing demands of customers. The industry has noticed an increase in demand for contactless service access, while many organizations have adopted the use of the internet of things (IoT), smart device apps, blockchain, artificial intelligence (AI), and analytics—all to streamline and optimize the customer journey. Industry players also put in efforts to support various consumer segments, including what has traditionally been the "unbanked" micro and nano sectors, as well as small and medium-sized enterprises, which are seen as key to economic growth.  

The insurance industry is also experiencing significant digital transformation across all areas of operations, with an increasing emphasis on building solid foundational capabilities such as modern data platforms on which more modularized core cloud-based technology solutions are beginning to evolve with the key objective of delivering a more seamless, personalized and customer-friendly proposition that can scale and adapt over time, just as customer needs do. 

This renewed focus on customer excellence is evident in this year’s top 10 brands for customer experience, with the financial services sector continuing to dominate representing five places, including the two top spots. These organizations were praise by respondents for their investment in digital and a renewed focus on providing personalized financial services to the diverse customer portfolios.  

Integrity and Empathy have become two pillars of customer excellence valued very highly by Thai consumers. The top two brands scored high for both pillars, thanks to a focus on ESG and a service proposition that is inclusive of many types of customers, from LGBTQIA+ customers to modern families.

Elsewhere in the rankings, non-grocery retailer Apple Store has jumped three places to take the third spot in this year's rankings.  As one of the world’s most popular consumer brands, Apple seems to get it right across many countries, and Thailand is no different. The COVID-19 pandemic has accelerated consumer use of technology, and this has shown no sign of slowing in its wake. Apple Store provides quick and easy services on high quality products, with an in-store experience that centers around the customer. As one customer said: “It is a well-known brand with high-quality products, convenient technology, product warranty, and good maintenance services.”

Beyond its retail offering, Apple Store has launched ‘Today at Apple’ sessions for students, customers, and employees in the region. These sessions are designed to equip those struggling with digital skills and are supported by ‘Smart Learn with Apple’ lessons, which are offered to students ahead of term-time.

Knowing your customer (KYC) is no longer about the basics of who we are and what we earn. It’s much more about understanding our identity, why we think in a certain way, how and when we are likely to act. This is critical to delivering an experience that we as consumers increasingly demand and requires a strategy that realizes the value of a consumer-focused organization’s most significant asset: data.

Christopher Saunders
Partner, Head of Financial Services
KPMG in Thailand

2022 Top Ten

  01. Prudential

  02. Kbank

  03. Apple store

  04. FWD

  05. Bar BQ Plaza

  06. Telecoms

  07. The Mall Group

  08. Major Cineplex

  09. Allianz

  10.  Bank of Ayudhya (Krungsri)