Forrester's 2024 Customer Experience Index (CX Index) has revealed a decline in the quality of customer experience (CX) among most brands and agencies included in the study.

The study, based on a survey of over 8,900 adults in Australia, benchmarks the CX quality of 30 brands across four industries.

In the banking industry, the average score was the lowest since 2020, with ING and Bendigo leading the industry as the only banks in the 'good' category of CX. The government sector's average score fell by 3.5 points compared to last year, resulting in the lowest average score ever. All 10 government agencies in the study ranked in the 'poor' or 'very poor' categories of CX.

The overall CX quality of Australian superannuation firms has remained flat, with no firm standing out with good CX. The industry also lacks differentiation, with only 2.4 points separating the highest- and lowest-scoring brands.

Investment firms scored in the 'OK' category of CX in the inaugural year of this study. The industry also suffers from a lack of differentiation, with minimal difference between the highest- and lowest-scoring brands.

"The quality of customer experience has been mostly flat in the last few years, with 2024 seeing a further decline," said Riccardo Pasto, principal analyst at Forrester and author of the reports.

"Despite the continued drop in CX quality, the silver lining is that more organizations are aware that they need to prioritise their customers’ needs to drive business growth. In this digital age, companies need to leverage and infuse emerging technologies like AI into human capabilities to create differentiated experiences for their customers. When companies invest in improving their CX quality, they receive many benefits, including higher customer loyalty, retention, and devotion."