“On the whole across all 34 markets brand loyalty checking in just under 40% as a determining factor in making a buying decision, but, that number dropped to just 25% in the US, a highly significant decrease in the number of American consumers who say brand loyalty is something that impacts their buying behavior.” (SocialMediaToday)
Years ago while working in a grocery store I would frequently encounter customers dead set on buying the same product they’d always bought. If we happened to be out of one type of toothpaste, for example, some customers became very distraught that they’d have to try a different flavor or different brand altogether.
Some people’s body language even seemed like having to make an unplanned decision on a different product created a lot of fear or anxiety. There seemed a certain safety in familiar products when shopping.
The growth of online shopping and mobile coupon deals allows us to compare prices quicker than ever before, so it seems natural that buying habits have also changed.
Having easier access to choices, special offers, and product reviews can tip brand loyalty by making similar (and possibly cheaper) alternatives readily available. Beyond that, others point to the recession as another reason for the diminished customer loyalty. As budgets get tighter, folks are a lot more willing to step outside their usual shopping habits.
It’s more important than ever to focus on your unique selling point. Technology makes the competition fiercer than it’s ever been, and the better you can distinguish yourself the better your odds of hanging onto customers or attracting new business.
Also, remember that while technology may offer shoppers more options it is also gives you a bigger stage to stand out if used effectively. The same coupon offers and other approaches that could pose a threat can also get you the attention you’ve been seeking.