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Top 3 Expectations from UAE Money Exchange Customers In 2019

Jan 2018 – Jan 2019

Category Analysis – UAE Money Exchange

Region – UAE 

UAE Money Exchange is connected globally with 100+ banks and 200,000 cash pickup points across the world. It offers convenient money transfers from anywhere and anytime. Customers feel safe and secure at every stage of their money transfer.

This report offers insights into the perception and delight drivers obtained based on customer reviews and online conversations.

Methodology

The analysis is based on customer reviews and conversations online in the segment. The analysis results presented are completely unbiased and not based on any subjective judgement. The source data used for the analysis are user conversations available publicly online like public forums and social media.

6,980

Total number of customer conversations analyzed

Top 3 Perception Drivers 

Customers of money exchange take into consideration several factors before exchanging their money. They want to ensure that they get the best exchange rates, while they don’t have to sweat too much over finding the right place to exchange the money.

What is Customer Perception?

Customer perception is customer awareness or an understanding of a particular thing. Consumer perception plays a vital role in the consumer behavior thereby affecting the demand for a product. Hence it becomes key to understand the attitude that influences consumer behavior. There are several factors that when offered will positively impact customer experience.  The customers using money exchange services in UAE look forward for certain services.

Through a detailed analysis of 6,980 online consumer conversations, Clootrack has listed the top 3 factors that money exchange customers look for the most in UAE. 

These services are indeed the top 3 drivers since it leads to overall satisfaction with the money exchange services. 

Top 1 Customer Perception : Better Exchange Rate

Customers want to get the best exchange rate while travelling in a foreign country. While customers want to avoid commissions, ATM fees and credit card surcharges, exchanging their currency for the best rate is on top of their list. Customers often look for money exchange companies that have very low or no foreign transaction fees.

Top 2 Customer Perception: Airport Money Exchange

When travelers land at a foreign airport, first thing they need is the local currency. This makes it important for customers to get money exchanged at a decent rate. Airport is one of the most convenient places for the travelers to exchange money safely and quickly without having to worry about finding the right place in an unknown country. 

 Top 3 Customer Perception: Currency Exchange Places

Customers who travel different countries want to have a variety of money exchange places so that they can exchange their currency without having the hassles of finding the best place.  Customers prefer to have money exchanged  at hotels, airports, exchange houses and ATM machines. 

Top 3 Perception Drivers

In this report we have presented the relationship between different perception drivers in the form of a graph that can be used to sense the degree of importance that consumers attach to various factors.

Top 2 Delight Drivers

There are several delight drivers that enhance customer satisfaction and promotes a brand. Clootrack analyzed online conversations and picked up top 2 factors that make money transfer a delightful experience for customers. 

Top 1 Delight Driver: Mall exchange rate

Customers prefer to exchange their money at ease without having to worry about moving out of the shopping malls. They are delighted when malls can offer money exchange services with the same rates across different malls. Customers find it easy and very convenient to get their job done when they find the exchange services in the malls. They prefer that every mall should have at least one money exchange branch belonging to a reputable money changer chain. 

 Top 2 Delight Driver: Exchange house rate

Customers are delighted when they get to exchange their money at the best exchange house rate. Exchange rate is the amount of one currency you can exchange for another. Travelers cheque is also one of the best ways to carry foreign currency. It has a worldwide acceptance and makes for a convenient payment mode.

Brand Equity

Consumer perception, which is a combination of knowledge and experience, towards a brand and its products, builds brand equity. The perception that a consumer segment holds towards a brand directly results in either positive or negative effects.

What is brand equity?

Brand equity is an indicator of the company’s strength and performance, specifically in the public markets.

Download the detailed report for free to get to know the brand names in the below chart. 

Customer Beliefs

Brand must reflect customer beliefs. When it comes to convincing consumers, the secret is to understand the consumer beliefs and their behavior.  This will eventually lead you to know what a buyer wants from your business. A customer has a deep understanding of what they want from a product.

Consumers of money exchange in UAE believe that airports often offer the best exchange rates. This report elaborates the beliefs that consumers have in UAE money exchange. 

 The exchange rate of currency at airport is really less

As per the online conversations, customers believe that the exchange rate of currency at airport is really less. Customers believe that once they step outside the airport, they are likely to be charged higher percentages to exchange their money. Customers feel that airport is a much better option when it comes to good exchange rates without getting charged high commission.

Detailed Report

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