The recently released Customer Satisfaction Index of Singapore 2014 Q1 survey results showed that tourist satisfaction levels with the local retail sector have dropped by 10 percentage points. While it’s tempting to treat it as a call to arms for local retailers to slash prices, Academic Director of the Institute of Service Excellence at SMU (ISES) Associate Professor Marcus Lee cautioned that this may not be a sustainable solution to raising tourist satisfaction levels. Instead of reducing prices, retailers here should consider a different approach – increasing value. Associate Prof Lee was speaking at the ISES Industry Forum on the future of service.