The customer churn rate refers to the percentage of customers that leave a business for a competitor. The team at Qualtrics proves why this is an important concept for businesses to consider with an illustrated list of statistics.
Here are just a few of their 30 crucial statistics:
• Customer churn rate in the U.S. is 21%.
• 61% of retail companies say customer churn is their biggest challenge.
• Media industries have the lowest global churn rates of 16%.
• Hospitality and restaurant industries have the highest U.S. churn rate at 45%.
Dive into the facts with the team’s full detailed list of statistics.
Brought to you by: Qualtrics.com
