• Image 01
  • Image 02
  • Image 03
  • Image 04
  • Image 05
  • Image 06
Need assistance? Contact Us: 1-800-255-5897

Menu

  • Home
  • About Us
    • Company Overview
    • Management Team
    • Board of Directors
  • Your Loan Service Center
  • MAKE A PAYMENT
  • Business Service Center
  • Contact Us
  • Home
  • About Us
    • Company Overview
    • Management Team
    • Board of Directors
  • Your Loan Service Center
  • MAKE A PAYMENT
  • Business Service Center
  • Contact Us
My Watchlist
Create Watchlist
Indicators
DJI
Nasdaq Composite
SPX
Gold
Crude Oil
Markets
Stocks
ETFs
Tools
Markets:
Overview
News
Currencies
International
Treasuries

Household Appliances Join the Television Industry (and Three Others) Atop the Customer Satisfaction Index, ACSI Data Show

By: American Customer Satisfaction Index via Business Wire
September 19, 2023 at 08:01 AM EDT

It’s been a banner year for the household appliances industry.

Customer satisfaction for washers, dryers, dishwashers, refrigerators, ovens, and microwaves surges 3% to a score of 81 (out of 100), according to the American Customer Satisfaction Index (ACSI®) Household Appliance and Electronics Study 2022-2023.

“The appliance industry has come out of its COVID-induced satisfaction slump and now sits atop the Index overall, tied with four other industries, including televisions,” says Forrest Morgeson, Associate Professor of Marketing at Michigan State University and Director of Research Emeritus at the ACSI. “While the easing of global supply chain problems helped to propel customer satisfaction this year, long-term improvement will depend on manufacturers’ ability to enhance customer service and provide a customer experience that goes beyond the nuts and bolts of the products themselves.”

Among other manufacturing/durables industries measured by the ACSI, televisions climb 1%, matching appliances at 81, while personal computers — including desktops, laptops, and tablets — improve 1% to 80.

Three-way battle for appliances supremacy

Household appliances enjoy nearly industrywide customer satisfaction improvements.

Haier and Whirlpool both move up 4% to share the top ranking with LG (up 1%) at 82. Haier’s sales have been soaring lately, and it’s now the world’s largest manufacturer of home appliances. Meanwhile, after two straight years of ACSI gains, Whirlpool secures top marks for durability and product quality.

Samsung, up 3%, comes in just below the three leaders with a score of 81, and Bosch makes the industry’s biggest leap, soaring 7% to 80.

The group of smaller appliance makers is stable at 79, just ahead of last place Electrolux — the only appliance manufacturer to slip — falling 1% to 78.

In terms of appliance types, Whirlpool reigns supreme for dryers (85) and dishwashers (83). Samsung secures the top spot among microwave (85) and oven (85) users, while LG leads the way for washers (85) and ties Haier for the highest customer satisfaction score for refrigerators at 82.

Meanwhile, the U.S. government continues to urge manufacturers to improve the efficiency of all household appliances, with the Department of Energy (DOE) releasing a series of proposals for updated regulations and stricter standards to cut water and energy use. This year’s study shows that manufacturers’ investment into features that will ultimately help the planet are paying off.

Over the past year, the appliance industry has improved performance for energy and/or water efficiency by 9% from 75 in 2022 to 82 in 2023. This year, Haier, LG, Samsung, and Whirlpool are leading the way with the highest marks.

“The good news for the industry is that ACSI data show that newer models with enhanced technology are helping boost customer ratings in key areas like energy and water efficiency,” adds Morgeson. “The expansion of smart technology may also have a positive impact on the industry, which could drive satisfaction even higher if privacy concerns are addressed.”

LG leaps to the top of the TV hierarchy

LG climbs 4% to the top spot among television manufacturers with an ACSI score of 83. The brand ranks at or near the top for most customer experience benchmarks, including durability, internal configurations, exterior design, and warranty.

The gap between the highest and lowest brands is shrinking (from 6 points in 2022 to 3 points in 2023), as is the gap in quality between “high-end” and “budget” brands — which is leading to the growing popularity of more affordable TVs.

Hisense is a good example of the payoff of balancing quality and affordability: The brand improves its ACSI score 4% to 82, placing it in a three-way tie for second place with Samsung (down 1%) and TCL (up 3%). After boosting production, Hisense now ranks second — only behind Samsung — in number of TVs shipped and secures top marks for service experience, mobile app, website, and call center touchpoints.

Sony, meanwhile, improves 3% to reach the industry average of 81. The group of other TV makers (up 1%) and Vizio (up 4%) tie for last place at 80.

Samsung catches Apple in the PC industry

Samsung surges 2%, tying Apple (up 1%) with an ACSI score of 83. This is the first time since 2003 that Apple hasn’t been in sole possession of first place. Samsung’s strong overall performance is boosted by surging customer satisfaction with its tablet offerings (Galaxy Tab). While tablet satisfaction at the aggregate level falls this year, Samsung improves 6% to a score of 85.

On the other end of the spectrum, Acer, Amazon, Asus, and Lenovo (each down 1%) meet the group of smaller PC makers at 78.

As for device types, desktop computers increase their lead after improving 5% to an ACSI score of 84. Laptops are up 1% to 80, while tablets slide 4% to 76. Desktops, which ACSI data show appeal particularly to an older demographic, garner by far the most satisfaction and loyalty from users.

The ACSI Household Appliance and Electronics Study 2022-2023 is based on interviews with 14,069 customers, chosen at random and contacted via email between July 2022 and June 2023. Follow the ACSI on LinkedIn and Twitter at @theACSI.

No advertising or other promotional use can be made of the data and information in this release without the express prior written consent of ACSI LLC.

About the ACSI

The American Customer Satisfaction Index (ACSI®) has been a national economic indicator for 25 years. It measures and analyzes customer satisfaction with more than 400 companies in over 40 industries and 10 economic sectors, including various services of federal and local government agencies. Reported on a scale of 0 to 100, scores are based on data from interviews with roughly 500,000 customers annually. For more information, visit www.theacsi.org.

ACSI and its logo are Registered Marks of American Customer Satisfaction Index LLC.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230919737261/en/

Contacts

Denise DiMeglio 610-228-2102

denise@gregoryfca.com

More News

View More
Why the Precious Metal Nobody Talks About Could Be Your Best Bet
Today 14:43 EDT
Via MarketBeat
Topics ETFs Economy
Tickers PALL VOO
Cheap Chipotle? Why CMG Stock Could Be Ready for a Comeback
Today 12:46 EDT
Via MarketBeat
Tickers CMG YUM
3 Industrial Stocks Ready to Benefit From Fed Cuts and Spending
Today 11:34 EDT
Via MarketBeat
Topics Economy Stocks World Trade
Tickers CC DOW NUE
A Copper Catalyst: Why Freeport-McMoRan Is Positioned to Rebound
Today 10:44 EDT
Via MarketBeat
Topics Artificial Intelligence Economy
Tickers BAC FCX
MarketBeat Week in Review – 09/29 - 10/03
Today 7:00 EDT
Via MarketBeat
Topics Artificial Intelligence Economy
Tickers AAPL APP BBAI BYDDF COST CRWV
Recent Quotes
View More
Symbol Price Change (%)
GOOG  246.45
+0.02 (0.01%)
Site Logo
Stock Quote API & Stock News API supplied by www.cloudquote.io
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms Of Service.

Having difficulty making your payments? We're here to help! Call 1-800-255-5897

Copyright © 2019 Franklin Credit Management Corporation
All Rights Reserved
Contact Us | Privacy Policy | Terms of Use | Sitemap