Articles from J.D. Power

Small business owners are less optimistic than they were a year ago and, as they accept a wider variety of payment methods such as debit and credit cards, digital wallets, Buy Now, Pay Later (BNPL) and even cryptocurrency, many are applying surcharges to customer purchases. According to the J.D. Power 2025 U.S. Merchant Services Satisfaction Study,℠ released today, 34% of merchants are adding surcharges for customer purchases made using credit cards. Accordingly, satisfaction with the overall cost of payment processing services among small businesses that implement these credit card surcharges is 24 points lower (on a 1,000-point scale) than among those that do not add a credit card surcharge.

Just 50% of mass market new-vehicle shoppers and 52% of premium new-vehicle shoppers indicate that the manufacturer's website was more organized and modern than other sites they visited, according to the redesigned J.D. Power 2025 U.S. Manufacturer Website Evaluation StudySM — Winter, released today. This highlights the need for manufacturers to update their sites to be more refreshed and intuitive for shoppers.

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This year, the average monthly residential electric bill reached $182 nationally, the highest amount ever recorded by J.D. Power—and customers aren’t happy. According to the J.D. Power 2024 U.S. Electric Utility Residential Customer Satisfaction Study,SM released today, overall satisfaction has declined for a fourth consecutive year to 707 (on a 1,000-point scale), with the biggest decline occurring in billing and payment (-11 points) and customer care (-11).

Auto lenders that deliver a strong digital customer experience via their websites and mobile apps enjoy much higher levels of digital self-service and have customers who are significantly more satisfied than those of other lenders. However, according to the J.D. Power 2024 U.S. Automotive Finance Digital Experience Study,SM released today, 40% of automotive finance customer digital experiences do not meet the most basic standards for modern design, problem-free operation and ease of navigation.

Customers of the nation’s largest national bank brands have higher levels of confidence that their banks can meet their financial needs and support them in challenging times, which is helping to improve customer satisfaction and increase trust. According to the J.D. Power 2024 U.S. National Banking Satisfaction Study,℠ released today, Capital One, Chase and TD Bank are the leaders in customer satisfaction for a third consecutive year. Additionally, those banks rank in the top three in the study’s most heavily weighted factor of trust, scoring 700, 691 and 687, respectively (on a 1,000-point scale).

Connectivity-related issues remain a significant hurdle for manufacturers’ mobile apps for internal combustion engine (ICE) vehicles, according to the J.D. Power 2024 U.S. OEM ICE App Report,SM released today. Nearly one-third (32%) of owners said they experienced app connectivity issues, a slight increase from 29% in 2023. Additionally, 61% of respondents stated that the app's connection to the vehicle is slow, occurring occasionally, frequently or every time they use it.

Gas utility customer satisfaction with billing and payment and customer care significantly drop, according to the J.D. Power 2024 Gas Utility Residential Customer Satisfaction Study, SM released today. Declines on these factors contributed to a significant decline in the industry’s overall satisfaction score, down 11 points to 729 (on a 1,000-point scale), the lowest score since 2015. Specifically, satisfaction with billing and payments drops to 773, down 22 points from 2023 and satisfaction with customer care drops to 774, a reduction of 26 points from 2023.

While 83% of U.S. small businesses expect more good than bad things to happen for their companies, more than half (51%) are currently categorized as financially unhealthy.1 Among those who are financially unhealthy, 61% are carrying revolving debt on their business credit cards and 63% are borrowing with those cards to fund operating expenses, according to the J.D. Power 2024 U.S. Small Business Credit Card Satisfaction Study,SM released today. The findings put a spotlight on the tenuous nature of the small business economy and the critical role that business credit cards are playing in keeping merchants afloat.

Auto and home insurers have spent the past year adding dozens of new features and refinements to their mobile apps, such as automatic collision reporting capabilities, enhanced image upload and body shop selection tools. According to the J.D. Power 2024 U.S. Claims Digital Experience Study,SM released today, these investments are resulting in significantly higher customer satisfaction scores. Overall satisfaction with the digital insurance claims process is 871 (on a 1,000-point scale), up 17 points from 2023.

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As wealth management firms in Canada continue to shift their focus and their outward branding away from transactions and trading to a focus on financial empowerment and freedom, clients’ expectations for personalized guidance are growing. According to the J.D. Power 2024 Canada Wealth Management Digital Experience Study,SM released today, while some firms are delivering on client demands for personalized experiences on their mobile apps and websites, many more are struggling to get beyond the basics of transactional digital relationships with their clients.

As expectations for the wealth management client experience continue to evolve from being more transaction- and product-driven to a more bespoke engagement, digital apps and websites have become critical customer touchpoints. According to the J.D. Power 2024 U.S. Wealth Management Digital Experience Study,SM released today, more full-service and self-directed wealth management clients than ever have come to expect tailored guidance on how to meet personal financial goals from the digital channels offered by their wealth management firms. While many firms are delivering on basic needs of transactional relationships, the majority still have a long way to go to build more personalized digital experiences that are a point of differentiation.

With new- and used-vehicle prices still elevated, budget-conscious shoppers are seeking vehicles that will provide long-term value, highlighting the importance of the J.D. Power 2025 U.S. ALG Residual Value Awards,SM released today. For a fourth consecutive year, Lexus and Honda receive the award for best premium brand and mass market brand, respectively. Lexus receives the most model-level awards with five, followed by Toyota with four.

With average new-vehicle loan interest rates still hovering near 20-year highs1 and the average new-vehicle retail transaction price now at $44,467,2 many auto loan customers are coming away from the lending process with a dose of sticker shock. According to the J.D. Power 2024 U.S. Consumer Financing Satisfaction Study,SM released today, the challenges of the current marketplace are being compounded by a deterioration in consumer financial health.3

A combination of improved business outlooks, stabilizing rates and improved communications have helped business customer satisfaction with electric utilities significantly increase this year. According to the J.D. Power 2024 Electric Utility Business Customer Satisfaction Study,SM released today, overall business customer satisfaction with electric utilities has increased 30 points (on a 1,000-point scale) following several years of declines and persistent customer dismay with high rates.

Senior living community residents and their family members are largely satisfied with their related experiences, particularly those in the assisted living and memory care segment, in which overall satisfaction scores are up significantly this year. According to the J.D. Power 2024 U.S. Senior Living Satisfaction Study,SM released today, overall satisfaction with assisted living and memory care communities is up 18 points (on a 1,000-point scale) from a year ago, while satisfaction with independent living communities is down 3 points.

Despite a September interest rate cut by the Federal Reserve, the average 30-year mortgage rate in the United States has been on the rise during the fourth quarter, reaching 6.9%1 in November, its highest level since August. Persistently high rates, combined with steadily rising housing prices, have put a strain on mortgage customers, according to the J.D. Power 2024 U.S. Mortgage Origination Satisfaction Study,SM released today. Some lenders have managed to turn those challenges into an opportunity to play a more hands-on advisory role with customers, earning high marks for customer satisfaction along the way. Other lenders have struggled.

Customer satisfaction with the vehicle purchase process continues to rise as new-vehicle inventory and pricing improve year over year, according to the J.D. Power 2024 U.S. Sales Satisfaction Index (SSI) Study, SM released today. This year, overall customer satisfaction with the vehicle purchase experience is 801 (on a 1,000-point scale), up from 793 a year ago. Even so, gains in other aspects of the purchase process such as personnel, paperwork and delivery are markedly smaller.

More than one-fourth (29%) of bank customers and 22% of credit card customers have experienced some instance of fraudulent activity on their accounts in the past 12 months, according to the inaugural J.D. Power U.S. Financial Protection Satisfaction Study,SM released today. As financial fraud continues to escalate the way in which financial institutions play an active role in helping customers protect themselves as well as how they respond to incidents, the financial protection they provide has become a key component to overall customer satisfaction, brand loyalty and advocacy with those institutions.

Overall customer satisfaction with in-store mattress purchases increases to 867 (on a 1,000-point scale), up 12 points from a year ago and tying with satisfaction among online mattress purchases, according to the J.D. Power 2024 U.S. Mattress Satisfaction Study,SM released today. One of the largest increases in satisfaction among in-store customers is value given price paid.

For the first time, the J.D. Power 2024 U.S. Home Security Satisfaction Study,SM released today, is split into two segments: professionally and self-monitored systems. Overall satisfaction is higher for professionally monitored home security systems with a score of 898 (on a 1,000-point scale) vs. 881 for self-monitored systems. Professionally monitored systems have higher satisfaction across the board despite the difference in price, as customers indicate they are seeing value for the price they are paying. Additionally, brand reputation is the top reason home security shoppers ultimately pick their system.

Having spent the better part of the past decade re-tooling and transforming their operations to embrace digital-first methods of client communication, investment strategy development and trade execution, wealth managers want just one thing when it comes to digital engagement with asset managers: an easy experience. According to the J.D. Power 2024 U.S. Advisor Online Experience Study,SM released today, ease of doing business has emerged as a top priority—second only to investment returns—for advisors when choosing the asset managers they work with most frequently.

Small business owners are more optimistic about the future and more confident about their bank’s ability to help them meet their future needs. According to the J.D. Power 2024 U.S. Small Business Banking Satisfaction Study,SM released today, overall customer satisfaction among small business owners has surged 20 points (on a 1,000-point scale) this year as economic outlooks continue to improve and banks have stepped up their game on problem resolution, people and financial health support.

Auto insurers have been fighting two major headwinds ever since the pandemic: rising costs and longer repair cycle times. This year, according to the J.D. Power 2024 U.S. Auto Claims Satisfaction Study,SM released today, some relief is in sight for one of those trends. The study shows that the average repair cycle time for claims filed later in the fielding period is 18.9 days, which is down 5.0 days from 23.9 days in the early fielding period. While that may offer some relief to insurers and their customers, the cost side of the equation has gone in the opposite direction, with the average repair cost rising 26% in the past two years. Premiums have followed suit, rising 15% during the past year.

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Trust is one of the biggest contributors to overall customer satisfaction scores with windows and patio doors manufacturers and retailers, according to the J.D. Power 2024 U.S. Windows and Patio Doors Satisfaction Study,SM released today. Specifically, the leading factor in customer satisfaction with manufacturers is trust (19%), while the leading factors in satisfaction with retailers—all at 16%—are trust, people and the delivery and installation process. Overall satisfaction among manufacturers is 739 (on a 1,000-point scale) and 737 for retailers.

The automotive industry is seeing small signs of increased consumer confidence in fully automated self-driving vehicles, although overall confidence remains low, according to the J.D. Power 2024 U.S. Mobility Confidence Index (MCI) Study,℠ released today. After a two-year decline, the index score for consumer automated vehicle (AV) readiness increases 2 points to 39 (on a 100-point scale), which is where it was in 2022.

Financial advisors and insurance agents offering individual annuity products are confronting a particularly challenging set of dynamics in the current marketplace. According to the J.D. Power 2024 U.S. Individual Annuity Study,SM released today, the majority (59%) of current annuity customers struggle with their financial health1 and many do not fully understand the products they are buying.

Customer contact with gas utility provider satisfaction is the lowest since 2016, according to the J.D. Power 2024 U.S. Gas Utility Business Customer Satisfaction Study,SM released today. With that, first-contact problem resolution has drastically decreased to 70% along with a steep decline in satisfaction. Additionally, nearly one-fourth (24%) of study respondents said they spent an hour or more talking with their gas utility representative while using digital tools. Satisfaction is 817 (on a 1,000-point scale) among those who spent more than an hour, while those who had their problem resolved in 10 minutes or less have a satisfaction score of 863.

Wireless internet customers are more satisfied with their service than those with wired internet, according to the J.D. Power 2024 U.S. Residential Internet Service Provider Satisfaction Study,SM released today. Customers with wireless internet have an overall satisfaction of 630 (on a 1,000-point scale) compared with 538 for wired internet customers. Wireless internet, also known as Fixed Wireless Access, provides internet access to customers through 5G or 4G LTE technology, making it an affordable and flexible alternative to other internet connections.

The life insurance industry is at an inflection point. Experiencing persistently slow growth and facing generational shift that is increasingly reliant on converting Millennial1 and Gen Z customers, the industry is working hard to improve customer communications and build trust with new customer segments. According to the J.D. Power 2024 U.S. Individual Life Insurance Study,SM released today, insurers still have a lot of work to do, with the majority of customers indicating their insurer makes things unnecessarily complicated—a problem that is particularly acute among the youngest generation of customers.

Customers who give their rental car companies the highest scores for trust are also most likely to reuse that brand for their next rental. However, according to the J.D. Power 2024 North America Rental Car Satisfaction Study,SM released today, overly complicated vehicles, problems experienced during the rental car experience and the inability to choose a specific vehicle can negatively affect trust, thereby damaging customer loyalty. Overall, just more than half (53%) of rental car customers say it was very easy to operate the features and amenities in their vehicle, an issue rental car companies will need to start addressing as in-car technologies grow increasingly complex.1

Climbing into a car with no driver—and expecting that car to take the rider to a predetermined destination—is something about which most consumers are skeptical. However, once someone rides in a robotaxi, they like it. Consumers’ level of satisfaction with the experience is 8.53 (on a 10-point scale), according to the J.D. Power 2024 U.S. Robotaxi Experience Study,SM released today. The leading contributor to the positive experience is vehicle technology.

For small, medium and large enterprise businesses, the number one reason for switching to a new wireless provider is for a better price on service, according to the J.D. Power 2024 U.S. Business Wireless Satisfaction StudySM, released today. The average score for cost of service satisfaction is at 686 (on a 1,000-point scale) and, for customers who strongly agree their plan has improved in value, satisfaction is 829, highlighting the room for improvement with value perception.

Advanced Driver Assistance Systems (ADAS) account for 12.8% of total new-vehicle problems with 24.9 problems per 100 vehicles (PP100), according to the J.D. Power 2024 U.S. ADAS (Advanced Driver Assistance Systems) Quality and Satisfaction Study,SM released today. Most notably, owners identify vehicle alerts as the top problem area of ADAS issues (9.0 PP100), and such problems have continued to grow during the past five years. A lower score reflects higher vehicle quality.

Independent insurance agents have been on the front lines of the most challenging markets in history, often serving as the intermediary between anxious clients and steadily rising rates or dramatic market exits on the part of insurers. According to the J.D. Power 2024 U.S. Independent Agent Satisfaction Study,SM released today, overall agent satisfaction with insurers of both personal lines and commercial lines has held strong, with commercial lines satisfaction reaching an all-time high. Areas in which some insurers are succeeding in helping independent agents navigate this challenging market are improved quoting platforms, agent training and incentives.

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Live TV streamers are more satisfied than cable and satellite customers, according to the redesigned J.D. Power 2024 U.S. Television Service Provider Satisfaction Study,SM released today. Overall satisfaction for live TV streamers is 625 (on a 1,000-point scale) compared with 524 among cable and satellite customers.

Heralded for its potential to break down socioeconomic and geographic barriers to care and celebrated as a lifeline during the pandemic, telehealth has become one of the most closely watched corners of healthcare delivery in the United States. Is it living up to its potential in the eyes of patients? According to the J.D. Power 2024 U.S. Telehealth Satisfaction Study,SM released today, results have been mixed. With more people than ever using telehealth—and many having great experiences—not all encounters have been perfect. Experiences vary considerably between telehealth providers and concerns remain over the effectiveness of telehealth for different types of care.

Perennial brand loyalty leaders including Toyota, Honda and Lexus have each been able to grow their respective shares of loyal customers amid stagnation experienced by other brands, according to the J.D. Power 2024 U.S. Automotive Brand Loyalty Study,SM released today.

More than three million1 passengers passed through Transportation Safety Administration checkpoints at North American airports on July 7 this year, setting a record for one-day passenger volume. According to the J.D. Power 2024 North America Airport Satisfaction Study,SM released today, such huge volumes of passengers—and all the traffic and rapidly rising prices that come along with them—has not stopped passengers from enjoying their time in airports, evidenced by this year’s overall airport satisfaction scores.

Homeowners and renters insurance costs have now exceeded both the rate of inflation1 and the average rate increases experienced by auto insurance customers during the past year. According to the J.D. Power 2024 U.S. Home Insurance Study,℠ released today, that nationwide surge in rates has driven a sharp increase in the percentage of customers shopping for new policies because their rates are too high.

In 2020, overall multimedia problems per 100 vehicles (PP100) was at 39.1 and steadily increased until 2024 with 43.7 PP100, excluding repair data, according to the J.D. Power 2024 U.S. Multimedia Quality and Satisfaction Study,SM released today. A lower score reflects higher quality.

As more retirement plan customers rely on digital channels for their primary means of interaction, digital experiences will be critical in supporting actions that support their future financial wellbeing and confidence. According to the J.D. Power 2024 U.S. Retirement Plan Digital Experience Study,SM released today, most retirement plan digital experiences still have a lot of room for improvement. Just 21% of retirement websites and mobile apps are living up to customer expectations for a valuable digital experience, significantly lagging those of other industries and putting assets under management at risk.

The secret to a great branded hotel stay may be in an aspect that guests do not often realize: the third-party management company operating the hotel, which creates consistent, pleasurable and problem-free guest experiences. According to the J.D. Power 2024 North America Third-Party Hotel Management Guest Satisfaction BenchmarkSM, released today, overall guest satisfaction with branded hotels run by the nation’s largest third-party management companies improves significantly this year, outperforming both chain-managed and independently operated hotels.

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Are vehicle owners becoming overwhelmed with technology features that don’t solve a problem, don’t work, are difficult to use or are just too limited in functionality? The results of the J.D. Power 2024 U.S. Tech Experience Index (TXI) Study,SM released today, suggest that could be the case. The study, which focuses on the user experience with advanced vehicle technologies as they come to market, finds that while owners offer praise for some advanced features, others are found to be lackluster.

Even in an environment of rising rates in which 36% of small business owners have experienced premium increases during the past year, overall customer satisfaction, loyalty and brand advocacy stay strong when customers trust their commercial insurance providers. According to the J.D. Power 2024 U.S. Small Commercial Insurance Study,SM released today, among small businesses with the highest levels of trust in their insurers 81% say they “definitely will” renew with their carrier and 79% say they “definitely will” recommend their carrier. Overall trust levels, however, vary widely by insurer.

Even as the nation’s hospitals and health systems continue to battle with Medicare Advantage programs over reimbursement rates, customer satisfaction with Medicare Advantage plans is significantly higher than with commercial member health plans. According to the J.D. Power 2024 U.S. Medicare Advantage Study,SM released today, the most important factors driving customer satisfaction with Medicare Advantage plans are ease of finding care, low out-of-pocket costs and provider choice.

Seat comfort and the headrest are two of the top four problem areas in the J.D. Power 2024 U.S. Seat Quality and Satisfaction Study,SM released today. Vehicle seat manufacturers have worked diligently to improve seat quality and functionality, however, the headrest is one of the top problems for a fifth consecutive year, highlighting the need for adjustments is long overdue. When assessing seat comfort, owners who do not have issue with their headrest have an average of 1.0 problems per 100 vehicles (PP100), however, when people do indicate having an issue with a headrest, the indication of “seat excessively uncomfortable” climbs almost six times to 6.7 PP100.

Wireless customers who have been with their brand for more than a year are experiencing higher satisfaction levels when it comes to cost and promotions, according to the J.D. Power 2024 U.S. Wireless Retail Experience StudySM—Volume 2, released today. These customers find their plans more affordable, offer better value and are easier to understand during the purchase experience. As a result, retail cost and promotion satisfaction have surged 24 points (on a 1,000-point scale) from a year ago.

The points, miles and perks that have come to define the modern credit card marketing playbook are being replaced by cashback rewards and lower fee cards as cardholder financial health1 grows increasingly strained. According to the J.D. Power 2024 U.S. Credit Card Satisfaction Study,SM released today, only 46% of cardholders are now classified as financially healthy and 51% carry revolving debt on their cards. Meanwhile, the average recalled interest rate on new purchases has climbed to 15.6%, creating a tenuous environment for cardholders and card issuers.

The public electric vehicle (EV) charging infrastructure continues to be identified as a culprit in the unexpectedly slow adoption of EVs in the United States, but this year it is showing signs of improvement with overall satisfaction increasing for a second consecutive quarter. While the issue is a long way from being solved, the J.D. Power 2024 U.S. Electric Vehicle Experience (EVX) Public Charging Study,SM released today, suggests the industry is on the right track despite continued challenges.

Automotive lending has been quickly transformed by artificial intelligence (AI) with the promise of faster, more accurate and more cost-effective credit decisions and approval processes. Auto dealers are not exactly ready to embrace the new technology. According to the J.D. Power 2024 U.S. Dealer Financing Satisfaction Study,SM released today, 55% of dealership finance teams say they are uncomfortable with AI, up from 50% in 2023. Their top concerns with the technology center on the loss of human interaction, inability to develop creative solutions and fear of job loss.

Overall satisfaction with wireless provider call centers has increased 13 points (on a 1,000-point scale) from a year ago, according to the J.D. Power 2024 U.S. Wireless Customer Care StudySM—Volume 2, released today. This increase in satisfaction is driven by a decrease in transfers, time taken to resolve problems and answer questions and an increase in first contact resolution.

With the average electricity rate in the United States up nearly 3%1 and the cost of summer season cooling costs projected to rise 8%2 this year, the nation’s residential and business electric utility customers are far more concerned with energy prices than they are with sustainability initiatives. According to the J.D. Power 2024 Sustainability Index,SM released today, just 22% of electric utility customers are even aware of their electric utility’s carbon reduction initiatives, despite that 80% of U.S. utility customers are served by a utility with a 100% carbon reduction target.3 Customers are nearly three times more likely to list “energy prices” than “environmental issues” as their most important energy-related issue.

The level of trust and reliability pharmacy customers have come to expect from their local pharmacist is increasingly being found instead through mail order pharmacies. According to the J.D. Power 2024 U.S. Pharmacy Study,SM released today, overall satisfaction with mail order pharmacies is rising steadily, with a 6-point increase (on a 1,000-point scale) in overall customer satisfaction this year. Meanwhile, chain drug stores have seen their overall satisfaction scores slide far below the brick-and-mortar category average, with long wait times, lower levels of customer trust in pharmacists and difficulty in ordering prescriptions emerging as problem areas for the segment.

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Owner satisfaction with new-vehicle design and performance has rebounded after two years of unprecedented decline, according to the J.D. Power 2024 U.S. Automotive Performance, Execution and Layout (APEAL) Study,SM released today. Overall satisfaction is 847 (on a 1,000-point scale), an increase of 2 points from a year ago. Satisfaction with non-Tesla battery electric vehicles (BEVs) is at an all-time high (877), surpassing stalwart Tesla (870).

Mortgage servicers this year have successfully fought back the headwinds of persistently high interest rates and financial uncertainty to drive improvements in overall customer satisfaction, but significant risks loom on the horizon. According to the J.D. Power 2024 U.S. Mortgage Servicer Satisfaction Study,SM released today, mortgage servicer efforts to improve digital experiences and streamline problem resolution have helped drive incremental improvements in customer satisfaction, but the overall financial health1 of borrowers has declined sharply and an increasing number of borrowers are paying their bill after the due date.

Do customers like doing business with their local gas and electric utilities, or merely tolerate them? Increasingly, the answer to that question determines how well utilities perform on virtually every customer management success metric—from satisfaction and engagement, to trust and advocacy and support for rate increases. That’s the major takeaway from two studies that evaluate the overall brand appeal of 234 electric and gas utilities in the United States: the J.D. Power 2024 U.S. Electric Utility Brand Appeal Index Study SM and the J.D. Power 2024 U.S. Gas Utility Brand Appeal Index Study, SM both released today.

People who purchase a new appliance primarily because of the price are far less satisfied than those who purchase for long-term benefits such as energy savings or a product guarantee/warranty, according to the J.D. Power 2024 U.S. Appliance Satisfaction Study,SM released today. Those who purchased for short-term savings because of a sale have an overall satisfaction of 714 (on a 1,000-point scale) and those who purchased because the product was environmentally friendly or had a warranty or guarantee have an overall satisfaction of 777 and 770, respectively. Additionally, only 38% of those who purchased for price say they “definitely will” purchase the same brand again compared to 56% for those who purchased because the appliance was environmentally friendly.

With the increase of 5G phones and network technology, wireless customers are experiencing fewer problems according to the J.D. Power 2024 U.S. Wireless Network Quality Performance StudySM—Volume 2, released today. The reduction of problems has led to improved consumer perception of reliability and increased network quality satisfaction.

Overall satisfaction with car manufacturer websites is the highest it has been in three and a half years thanks to an increase of inventory and incentives, according to the J.D. Power 2024 U.S. Manufacturer Website Evaluation StudySM — Summer, released today.

With an average daily rate (ADR) for a U.S. hotel room of $158.45 in May 2024—the second-highest month ever behind $159.01 in October 20231—virtually every traveler in every hotel price bracket is paying more for a hotel room. According to the J.D. Power 2024 North America Hotel Guest Satisfaction Index (NAGSI) Study,SM released today, travelers’ perceived value for those higher prices is very much dependent on how well the hotel delivers on their expectations. This year, the luxury and upper upscale segments show strong guest satisfaction scores while limited-service hotel segments have experienced declines in guest satisfaction year over year.

J.D. Power, a global leader in data analytics, today announced the J.D. Power Mobile App Platform Certification—BankingSM to recognize mobile app technology platform providers that provide an exceptional mobile app experience.

Small businesses depend on internet reliability and, when service is interrupted, providers can mitigate the effect by proactive communication and sensitive messaging, according to the J.D. Power 2024 U.S. Business Internet Satisfaction Study,SM released today. For medium and large businesses, digital account management is imperative to overall satisfaction.

The aging U.S. financial advisor population, industry consolidation and slowing organic growth rates create potential challenges for future advisor retention. According to the J.D. Power 2024 U.S. Financial Advisor Satisfaction Study,SM released today, 34% of employee advisors and 41% of independent advisors who are more than two years from retirement say they may not stay with their current firm in the next one to two years. This is particularly noteworthy given that 28% of employee advisors and 52% of independent advisors have worked for three or more firms during their career.

In its inaugural year incorporating franchise dealership repair visits with the Voice of the Customer (VOC) data to create a more expansive metric for problems per 100 vehicles (PP100), the J.D. Power 2024 U.S. Initial Quality StudySM (IQS), released today, the industry average is 195 PP100. Mass market brands, with a combined average of 181 PP100, outperform the industry average. Meanwhile, premium brands—often including more complicated systems and thus more reliance on connectivity—average 232 PP100. A lower score reflects higher vehicle quality.

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With inflation still a day-to-day challenge for most consumers, and less than half of retail bank customers in the United States currently categorized as financially healthy,1 personalized financial advice has emerged as the key to a meaningful bank customer experience. In fact, according to the J.D. Power 2024 U.S. Retail Banking Advice Satisfaction Study,SM released today, financial advice is resonating more than ever with retail bank customers, but only 42% of them indicate recalling that their bank provides guidance and, of those who do receive guidance, more than three-fourths (76%) act on it.

With U.S. auto insurance rates up 11.2% on average during the past year—and insurers still losing an average of five cents on every dollar of premium they collect—sky-high premiums do not appear to be leveling off anytime soon. According to the J.D. Power 2024 U.S. Auto Insurance Study,SM released today, these rate increases do not necessarily erode customer satisfaction with auto insurers. When customers have a high level of trust in their insurer, customer satisfaction and brand advocacy increase considerably, even in the face of rate increases. However, slightly more than half (51%) of customers say they have little trust in their auto insurer.

The good news: the nation’s banks and credit card providers have done a great job establishing best practices for a seamless, efficient digital user experience on their mobile apps and websites. The bad news: with limited differentiation between brands, it’s become challenging to distinguish and drive meaningful digital customer relationships. According to a series of recent studies of bank and credit card mobile app and online users, released today by J.D. Power, the one area in which banks and credit card providers can still drive meaningful, unique digital customer experiences is through personalized financial management tools and the use of digital assistants.

Just 11% of new-vehicle shoppers in Canada say they are “very likely” to consider an electric vehicle (EV) for their next purchase, down 3 percentage points from 2023 and less than half of the 24% of U.S. shoppers who say they are “very likely” to consider an EV. That strong sense of resistance is the dominant theme of the J.D. Power 2024 Canada Electric Vehicle Consideration (EVC) Study,SM released today, which finds that perceptions of limited driving distance per charge, high purchase price and lack of charging station availability are the biggest factors limiting EV consideration.