logo
John Lewis beats M&S and Ocado to be top of the shops for customer satisfaction

John Lewis beats M&S and Ocado to be top of the shops for customer satisfaction

Independent09-07-2025
John Lewis has been named as the nation's favourite retail store, beating a string of other major businesses to take the top spot for customer satisfaction.
The UK Customer Satisfaction Index (UKCSI) received almost 60,000 responses from customers, ranging through retail, banking, services, utilities, telecommunications and more, with a score then assigned to each brand.
John Lewis edged out Marks & Spencer to take the top spot among retail outlets, with Holland & Barrett, Ocado and Amazon also among the best ranked.
Waitrose was the only food retail firm to see their score fall by more than one point compared to last year, though they remain above the sector average. Having ranked fourth overall a year ago, the shop sits 26th this time around. The report also noted their sales grew in the quarter-year to May by below the market average.
In banking, the most notable highlight was seeing smaller, digital or challenger brands beat off competition from most of the main established high street names.
First direct, which is owned by HSBC and has around 1.5m customers, was the top-rated brand overall - having been 14th a year ago - and finished just above Starling Bank in the banks and building societies category.
Nationwide Building Society was the only legacy name to feature in the top 30 brands, with Monzo and The Co-Operative Bank also ranking ahead of the likes of Santander and Barclays.
Paypal and Klarna also both featured in the index for the first time and were ranked among the top ten organisations overall, but as financial tools and payments firms are categorised in the services sector rather than among the banks.
The report further broke down customer satisfaction reports into categories including experience, complaints handling, customer ethos, emotional connection and ethics. Across these subjective scores, UKCSI said M&S food was 'among the highest-rated on all five dimensions', with First Direct, John Lewis, Starling and Nationwide noted as highly ranked across four of the five.
For those ranking outside the top 50 firms overall, the report also highlighted a number of most-improved businesses from their 2024 to 2025 scores.
Car manufacturer Seat saw the highest individual increase, with the likes of transport firms Thameslink and TransPennine Express both seeing improvements yet still trailing their sector average.
Among top-50 ranked companies, the only ones to see their customer satisfaction levels drop aside from Waitrose were holiday firm Jet2holidays.com, service retailer Timpson and high street bakery firm Greggs.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Gordon Brown: Raise gambling taxes to fund abolition of benefit cap
Gordon Brown: Raise gambling taxes to fund abolition of benefit cap

The Independent

time5 minutes ago

  • The Independent

Gordon Brown: Raise gambling taxes to fund abolition of benefit cap

Gordon Brown has warned that Britain is experiencing its worst poverty in over half a century, urging Sir Keir Starmer to abolish the two-child benefit cap. The former prime minister proposed funding the abolition of the cap, which would cost £3.2 billion, through reforms to gambling taxes. Mr Brown supported a report by The Institute For Public Policy Research (IPPR) suggesting that increased gambling taxes could lift around half a million children out of poverty. The two-child benefit cap, introduced by George Osborne, restricts benefit claims for third or subsequent children born after April 2017. The Betting and Gaming Council has criticised the proposed tax increases, arguing they are 'economically reckless' and could push consumers towards unregulated black markets.

Average tracker mortgage borrower set to see £29 fall in monthly payments
Average tracker mortgage borrower set to see £29 fall in monthly payments

The Independent

time5 minutes ago

  • The Independent

Average tracker mortgage borrower set to see £29 fall in monthly payments

The average homeowner on a tracker mortgage will see nearly £29 shaved off their monthly payments, following the quarter point cut in the Bank of England base rate, according to industry figures. Banking and finance industry body UK Finance calculated that the reduction in the base rate on Thursday, from 4.25% to 4%, will mean the typical mortgage holder on a deal that directly tracks the base rate will pay £28.97 per month less, based on the average balance outstanding. Over a year, this adds up to a reduction of nearly £350 (£347.64). Those on a standard variable rate (SVR) deal could see their monthly mortgage payments reduce by £13.87 on average, adding up to an annual saving of £166.44 – provided the lender passes on the base rate cut in full. Borrowers often end up on an SVR when their initial deal ends and the rate is set by individual lenders but often follows movements in the base rate. Homeowners on fixed-rate mortgages will see no immediate change, although thousands are due to remortgage in the months ahead. Around 900,000 fixed-rate mortgage deals are due to expire in the second half of 2025, according to UK Finance's figures, with 1.6 million fixed deals having ended or being due to end across the whole of the year. Charles Roe, director of mortgages at UK Finance, said: 'Today's rate cut by the Bank of England takes us back to where we were just over two years ago when rates were last at 4%. 'While most mortgage holders are on fixed-rate deals, the cut will be welcomed by those on tracker or variable rate mortgages. This rate reduction should also help new mortgage applicants, as affordability and overall borrowing costs could improve.' Nicholas Mendes, mortgage technical manager at John Charcol said: 'Mortgage rates have been edging lower in recent weeks, helped by falling swap rates and a fresh price war among lenders. 'Many banks are off their annual targets, particularly on the purchase side, so they're sharpening rates to compete for remortgage business instead. That's why we've started to see a handful of five and two-year fixed rates priced below 3.8%, even as inflation remains above target.' He said that for those borrowers 'rolling off sub-2% pandemic-era deals this year, the gap between old and new repayments is still significant, but it's narrowing. The payment shock is nowhere near what we were seeing 12 to 18 months ago.' Mr Mendes added: 'For anyone approaching the end of their current mortgage deal, it makes sense to start the process around four to six months before it expires, depending on your lender. 'That gives you time to consider both a product transfer with your existing lender and the option of remortgaging to a new one. Most lenders will allow you to secure a rate early, which means that if the market moves against you and rates rise, you are protected. 'If rates fall, there is often the opportunity to switch to a lower deal before completion, either with the same lender or a different one, provided you have kept an eye on fees, timelines and any cancellation clauses.' Matt Smith, a mortgage expert at Rightmove, said: 'Lenders have been competing for business in a market which has the largest supply of homes for sale in a decade. 'A combination of rate cuts and changes to buyer affordability criteria are helping many home movers to responsibly borrow more towards the home that they want. 'The market expects there will be one more (Bank of England base rate) cut before the end of the year, with an outside chance of two. Any further cuts would likely see this cycle repeat again, with lenders using it as an opportunity to reduce rates a little more. 'It bodes well for the second half of this year, with further mortgage rate reductions and stable prices likely to encourage more activity.' Mark Manning, managing director of Northern Estate Agencies Group said: 'Today's rate reduction will help to settle people's nerves and ensure the property market remains buoyant.' Rachel Springall, a finance expert at said: 'The continuation of falling mortgage rates will instil a sense of confidence among borrowers.' She added: 'Lenders have also been relaxing stress tests to further support mortgage customers.' Ms Springall added: 'In positive news, swap rates have been edging downwards once again in recent days, which will give lenders more scope to reduce fixed mortgage rates.' She said: 'There remains a clear financial gain for borrowers to shift from a variable rate mortgage onto a cheaper fixed rate, as a typical mortgage borrower being charged the current average standard variable rate of 7.42% would be paying £372 more per month, compared to a typical two-year fixed rate.' Moneyfacts' calculation was based on a £250,000 mortgage, being repaid over a 25-year term. Ms Springall also said that base rate reductions 'will spell further misery for savers'. She said: 'It is essential that savers do not wait around for too long to snap up the top rates on the market, particularly if they use their pots to supplement their monthly income.' According to the average easy-access savings rate on the market in August is 2.68%, down from 3.15% in the same month a year ago. The average easy-access Isa on the market in August offers 2.90% in interest, down from 3.36% a year earlier, the financial information website said. Thomas Lambert, a financial planner at wealth manager Quilter said: 'Cash savings rates have been among the few beneficiaries of the Bank's earlier rate hikes, but they are now under pressure as expectations shift. 'Banks and building societies are typically quick to respond to rate cuts, particularly on easy-access accounts, meaning the top rates may start to slip. 'Fixed-rate savings products may hold up for a little longer as institutions manage existing funding strategies, but the overall trend is clear. Those looking to make the most of their savings may want to consider locking in rates now, while they remain relatively high. 'The broader challenge is that many savings rates are once again falling below inflation, and the erosion of real returns is becoming an issue for households trying to preserve the value of their money. 'Diversification, including a considered approach to investing, may be needed to maintain purchasing power over time.' The value of investments can go down as well as up. Jenny Ross, editor of Which? Money, said: 'If you're a saver, now is the time to take stock of your accounts. Banks will likely be swift to cut the interest paid on variable rate accounts, so shop around to make sure your money is working as hard for you as it can.'

Interest rates cut to 4% as UK inflation picks up
Interest rates cut to 4% as UK inflation picks up

The Independent

time5 minutes ago

  • The Independent

Interest rates cut to 4% as UK inflation picks up

UK interest rates have been cut to their lowest level since March 2023, despite the Bank of England predicting a sharp rise in inflation amid accelerating food prices. The central bank chose to reduce interest rates to 4% from 4.25%, pointing towards a recent fall in wage inflation and reduced uncertainty over the impact of US tariffs. The cut came after the Bank's nine-person rate-setting committee was forced to take a second vote for the first time in its history. The Bank's Monetary Policy Committee (MPC) initially saw four of its committee vote for the 0.25 percentage point reduction, four vote to keep rates at 4.25% and one, Alan Taylor, vote for a 0.5 percentage point cut. Governor Andrew Bailey then led a second vote, when Mr Taylor gave his backing for a cut to 4%, providing a majority of five to four. Mr Bailey said: 'We've cut interest rates today, but it was a finely balanced decision. 'Interest rates are still on a downward path, but any future rate cuts will need to be made gradually and carefully.' Lower interest rates will be welcomed by Chancellor Rachel Reeves, and the move is likely to reduce the Government debt payment costs. It comes after warnings from the NIESR think tank that the Chancellor may need to find a further £40 billion through tax rises or spending cuts in her autumn Budget in order to balance the state finances. Firms were already hit by significant tax and wage cost increases in April after Ms Reeves' first Budget. In its fresh report, the Bank of England warned that UK businesses said increased national insurance contribution payments and uncertainty caused by the tax rise have 'weighed on growth'. Nevertheless, the Bank raised its economic growth forecast for this year, predicting that GDP (gross domestic product) will grow by 1.25% in 2025, up from its previous estimate of 1%. It comes despite latest figures from the Office for National Statistics showing that the economy contracted in both April and May. Bank officials indicated that the economy is still likely to have grown by 0.1% over the second quarter, and predicted this will pick up further through the year amid hopes that reduced interest rates will encourage spending. Meanwhile, inflation is expected to accelerate in the coming months, putting more pressure on household budgets. Consumer price index (CPI) inflation is now on track to peak at 4% in September, surpassing previous guidance that it would peak at 3.5%. The increased cost of living is largely being driven by higher energy and food prices, according to the Bank. Food prices have jumped in recent months, with the cost of beef, chocolate and coffee all accelerating. The inflation reading for September could also be influential as it is typically used to decide how much benefits increase the following year and is also one aspect of the pension triple lock. The triple lock means that pensions will rise by the highest of the September inflation reading, wage inflation for the month, or 2.5%. Inflation will remain higher than previously expected for the next two years. The Bank said inflation is now on track to drop down to the 2% target rate set by the Government in 2027. On Thursday, the Bank also said it now had increased clarity over the potential impact of US President Donald Trump's tariff regime compared with its previous report in May. It said tariffs will now drag down UK economic growth by 0.2 percentage points, down from 0.3, after the Government's trade agreement with the US.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store