Wednesday 30 November 2022 - 12:57:55 am

Dubai Economy announces results of region’s first evaluation of Consumer-Friendly Standards among businesses

DUBAI, 6th October, 2020 (WAM) -- Dubai Economy revealed the preliminary results of evaluating businesses for their consumer friendliness for the first time. The evaluation, conducted on the basis of the region’s first-of-its-kind Consumer-Friendly Standards, launched last year by the Commercial Compliance & Consumer Protection, CCCP, Sector in Dubai Economy, seeks to establish an integrated system for businesses to develop the customer experience and services provided by them.

The first edition of the Consumer-Friendly Standards evaluation had the participation of businesses in varied sectors, as follows: retail sector (50 percent,) electronics (15 percent), automotive and car rental (10 percent each), restaurants, fitness and e-commerce (5 percent each).

The results indicate major variation in performance across each of the four main evaluation criteria - Strategy, Communication, Customer Care and Development. Strategy scored at an average of 50.5 percent, which shows the need for companies to focus on policies for customer management, and the pricing strategy. The Communication criterion had an average score of 88.11 percent, which indicates a higher level of attention among businesses on marketing practices, pre and after-sales experience, consumer impressions, and their role in gaining trust and loyalty. The average score in Customer Care was 75.65 percent, which points to more opportunities for companies to develop and improve the efficiency of complaints resolution, compliance with laws and regulations, and quality. The Development criterion had an average of 64.27 percent, which again emphasises the need for more focus on enhancing service standards and capabilities of their customer service care.

The four evaluation criteria are grouped under two themes - Sustainability and Competitiveness. The Sustainability theme includes the Strategy and Communication criteria, while Competitiveness covers Customer Care and Development. Overall, companies had an average score of 75.8 percent in the evaluation, while Sustainability alone had an average of 79.77 percent and Competitiveness, 72,55 percent.

Businesses being periodically evaluated for consumer-friendliness will support them in evolving strategic plans and channels for communicating with consumers, improving efficiencies in dealing with consumer complaints, and developing their services towards a better consumer experience. The results achieved in the first evaluation point to an opportunity for businesses to elevate their consumer-friendliness across both the themes.

Mohammed Ali Rashed Lootah, CEO of CCCP, said: "Through the Consumer-Friendly Standards, Dubai Economy aims to increase corporate sustainability and market competitiveness in order to create a healthy and friendly environment for consumers. The standards were developed after a comprehensive market study of consumer behaviour data from the past five years. The preliminary results achieved by the participating companies and sectors indicate that there are opportunities to develop performance, specifically in strategy, customer experience, and other criteria."

Lootah added: "Companies can greatly benefit by participating in the evaluation, due to their developmental advantages in many aspects, in addition to their important role in promoting investments based on reputation that companies can obtain through our authentic certificate and detailed report on the market, sector and the company itself. They can also receive an approved label for use in stores and other appropriate areas. This would support the company in adopting best practices and enhancing customer loyalty, and better profits thereby, in addition to benefiting from innovative case studies and analyses."

WAM/Tariq alfaham