Customer research: energy is the most active switching market

The energy sector has the highest number of switchers across customer sectors, according to new research from Echo Managed Services.

In a survey of 1000 customers the services company found that 38% of consumers had reviewed or switched supplier in the last year, compared with 34% for motor insurance, 30% for home contents insurance and 27% for broadband. The most important driver for switching was price: 61% said that was why they switched.

The survey found that 34% of respondents wanted to switch utility accounts regularly – half the respondents thought reviewing costs was an important part of managing household budgets, but some wanted to get benefits from being loyal customers. However, 11% have never switched and 14% are sceptical over whether they can get a better deal or better service by switching.

Nearly half (48%) of those questioned wanted to be offered multi-utility deals – including water – and said they would switch to such deals if it saved money.

Read the survey

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