Research highlights consumer preferences
A new survey released today has thrown some light on consumer preferences in Bermuda.Research Innovations interviewed 600 people and found:* BF&M has the largest market share of the vehicle insurance market at 38.1 percent;* A majority of residents (51.5 percent) identify HSBC as their primary bank;* Digicel and M3 Wireless hold equal shares of the cell phone market at 35.1 percent and 35.6 percent, respectively, and* Cable & Wireless has the largest market share of the residential long distance telephone market at 39 percent.In terms of satisfaction levels, the research found that:* Freisenbruch-Meyer has the highest ranking in customer satisfaction in insurance, with 80.8 percent of their customer reporting they are “very satisfied” with the service they receive;* Capital G has the highest ranking for customer satisfaction in banking, with 80 percent of its customers reporting they are “very satisfied” with the service they receive;* M3 Wireless and CellularOne tie in the highest ranking for customer satisfaction in the cell phone sector with 51.4 percent and 49.2 percent, respectively, reporting they are “very satisfied” with the service they receive, and* Logic has the highest ranking for customer satisfaction in long distance telephone service with 87.5 percent of their customers reporting they are “very satisfied” with the service they receive.The full report contains the results on customer loyalty, perceptions on cost for the different sectors and is cross-tabulated by age, gender, income and race. Copies of the report can be purchased by contacting Research Innovations at info@researchmix.com.The Margin of error was : 3.9 percent and the data collection period was January 12 to 19.
