Just so you know I surely did not sit down and consciously plan on writing on two articles this week on brand loyalty and what marketers need to know and so on. It just so happens I came across the WSL Strategic Retail How America Shops MegaTrends report entitled "Moving On 2012."
I found the findings in the report very provocative and I used some of them for my article of a few days ago Is Brand Loyalty Dying A Slow And Painful Death? I also touched on some findings re: mobile marketing from a survey by AisleBuyer which revealed that that nearly 75% of consumers would switch brands if offered real-time discounts and promotions that were delivered to their smartphones in real time while they were shopping in a store.
In other words, loyalty/schmoyalty. Give someone something i.e. a discount or coupon and brand loyalty goes out the window.
Today, however, I want to go back to the aforementioned WSL Strategic Retail report and touch on a finding that should send shivers up and down the spines of brand marketers, brand managers and pretty much all marketers and advertisers.
They've Got The Power
Last March I wrote a piece about whom I consider to be "The Most Powerful Brand Ambassadors In the World."
The whom I am referring to is the same group who account for 85% of all consumer purchases including everything from autos to health care.
The answer of course is women.
A woman is the most powerful brand ambassador in the world. Period.
But are they brand loyal?
Well based upon the findings from the WSL Strategic Retail report I would say it surely does not appear so.
Run these up your flag pole Mr. and Mrs. Brand Marketer:
- A stunning 75 percent of women now say it's important get the lowest price on everything they buy, up 12 percentage points. from 2008 and up 22 percentage points from 2004
- While 67% of women agreed that trusted brand names are not worth paying more for
The two points above are truly eye-opening in my humble opinion. To think that so many women - AKA the ones making the bulk of consumer household buying decisions, are seemingly completely ambivalent when it comes to brand loyalty - even dismissing the issue of trust - is, well forget about eye-opening, it's downright scary.
Scary in the sense that if you are a given brand in any category and even though your loyal customer has remained loyal for X number of years regardless of price, said customer is now willing to turn their back on you all for the sake of saving money.
Forget about quality.
Forget about trust.
Forget about loyalty.
One word: Money.
And the saving thereof.
So it would appear that given the fact that the most powerful brand ambassadors in the world are no longer brand loyal, I guess I have my answer to the question Is Brand Loyalty Dying A Slow And Painful Death?
Source: consumergoods.edgl.com, Google Images