One in four consumers less brand loyal in 2009
Almost one quarter of British consumers say they are less brand loyal now than they were 12 months ago, according to a survey commissioned by The Loyalty Practice at HS&P.
While 23% said they consider themselves to be "a bit less" or "much less" loyal to brands in 2009 than they were in 2008, only 9% considered themselves to be "much more" or "slightly more" brand-loyal.
The study also found that there is almost no real customer loyalty remaining in the country's travel sector, to which only 3% are "most loyal". This compared poorly with supermarkets, to which 33% of respondents said they were most loyal.
Other key findings of the survey included:
- When it comes to age, consumers aged 60 and over are less likely to switch banks, while younger consumers put greater emphasis on their favourite telephone or internet service provider.
- Compared to men, women are twice as loyal to their favourite fashion brands.
- After supermarkets (at 33%), banks (23%) are the outlets that most respondents considered themselves loyal to, with airline and travel companies coming last with only 3%.
- The single factor most likely to influence loyalty to a brand in the long term was "exclusive privileges offered to frequent buyers" (41%), with "special events including sales previews" coming last (only 15%).
According to Louise Isaacs, head of The Loyalty Practice, "With cash-conscious consumers paying closer attention to the purchases they make, businesses are having to fight harder to keep customers coming back. Travel brands are likely to fall low in the loyalty rankings because holidays and flights are low frequency purchases, having very few interactions with the consumer, and therefore fewer opportunities to build up relationships with them. Consequently, travel brands must focus more on engaging customers during their buying cycle to capture more data and build better relationships."
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