Price remains the main impulse for store loyalty

Price is still the main reason for retail or product loyalty amongst consumers. This is evidenced by recent research by the American Council of Shopping Centers. Nine out of ten Americans (92%) indicated first to pay attention to price, followed by product selection / quality (79%) and assortment (71%). Typically, these kind of statistics among large groups of respondents are a good indicator of what is happening in the European market.

Shopper experience

Another important conclusion of the inquiry was that 62% of consumers are willing to spend more money at retailers who respond best to shopper needs. If the shopping experience does not meet expectations or staff fail to give customer-friendly service, 82% of respondents feel the need to switch retailers.

Brand loyalty

Among the respondents, 90% indicated that they were more likely to choose A brands over private labels or local brands. This applies especially to the consumer electronics category, followed by fashion and shoes, personal care and beauty products.

Millennials

The biggest brand loyalty has been observed among millennials. This group is especially interested in stores with an above-average amount of well-known brands. For 80% of the surveyed millennials, brand variety is an important argument for visiting a store. At the same time, this group is less likely to be disturbed by a bad shopping experience. The older generation (36-70 years old), on the other hand, is more likely to switch retailers if the shopping experience does not suit their needs.

Recognizing opportunities

When you have a clear picture of where your target group is located and what they are interested in, you will be able to properly influence this group. Once in the supermarket, consumers are tempted by many kinds of impulses to make a purchase. Although people are usually very well-informed when going shopping, most purchasing decisions are still intuitive: 70 to 80% of them are taken in-store.

Be well prepared

Are you considering a promotional campaign for your brand? Then make sure you have a clear picture of what you want to accomplish. A win action is particularly useful when you want to expand your customer base in addition to increasing sales. After all, the more you know about your buyers, the more successful you can deploy future campaigns. However, only ask the information you really need or try to learn more about your target audience in a different way. Asking for all sorts of (personal) information scares people off and might result in elimination.