March 12, 2022

Brand loyalty

Back

According to a joint research from first-party customer data specialist Edit and digital transformation consultancy Kin+Carta, 27.4% of UK and US consumers now show no brand loyalty at all. E-commerce scored particularly poorly, with only 6% of consumers claiming loyalty to brands within this segment. Finance was a little bit better with 9%. While off-line retail – food and drink – scored 21.5%. Rob McGowan, joint managing director at Edit comments: “These results suggest that while the e-commerce sector boomed during the pandemic, brands would be wise not to confuse habitual purchasing with perceived loyalty.” Loyalty towards financial products increased with age and with those who have an income of £75,000 plus, with over 20% of respondents in this income bracket claiming loyalty to brands within the sector. In a digital-first customer journey, rewards are most likely to drive the sharing of personal data across demographics. 43% of respondents suggested ‘a discount code or incentive’ would persuade them to sign up to brand communications. 25% would like ‘exclusive products or first opportunity to purchase’, Gen Z consumers saw “exclusivity” as particularly appealing, with 30% interested in ‘first opportunity to purchase’. Operational and customer service communications outweighed rewards as a ‘return factor’ for younger generations. 34% of Gen Z respondents, and 32% of Millennials said that they would be ‘deterred from making another purchase if they cannot contact customer services via their preferred method’.

https://marketingtechnews.net/news/2022/jan/31/the-pandemic-has-destroyed-customer-loyalty/?fbclid=IwAR06cnhfBQU2K1j46lkQfoKRwrka2hJsAwv40cffd4EUmG5zs7GjZJtSj_c

Copyright © AdsHeads 2016-2022 | All Rights Reserved