STUDY: 56% of U.S. Consumers Will Shop with Brands That Have Contrary Beliefs for Better Deals
New customer loyalty research from Clarus Commerce reveals many shoppers value well priced, high-quality products over a brand’s reputation and actions
Clarus Commerce, a leader in loyalty and customer engagement strategies, today released its 2022 Customer Loyalty Data Study, “What Are The True Drivers of Loyalty In The Minds of Consumers.” The report outlines how consumers feel about the brands they’re most loyal to, and what drives and disrupts their decision to remain loyal, long-term customers.
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To better understand the psychology behind what keeps customers regularly buying from and engaging with brands, Clarus Commerce surveyed 2,500 U.S. consumers to gain insight into what keeps them loyal and what truly influences their opinions. The data revealed that consumers are still willing to choose price over principle when purchasing from brands with 56% saying they will shop with a brand that has contrary beliefs to get a better deal. At the same time, 52% of consumers said quality is a superseding factor while 37% believe convenience is most important.
It’s increasingly challenging for retailers to cut through the noise and maintain customer loyalty in today’s market. Not to mention, across generations, consumers have different preferences and take into account different factors when determining which brands they shop with. The report also found that 72% of shoppers over age 74 say they don’t know the values of their favorite brand, while only 38% of those under 24 say the same. It’s now more critical than ever for brands to understand what factors influence brand loyalty across different age groups or they risk missing out on potential customers.
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Additional key findings include:
- Shoppers are increasingly interested in community: Almost a quarter (22%) of consumers said that building a sense of community was the best way to attain their loyalty – more so than a brand’s social impact or overall convenience.
- Bringing customers together fuels loyalty: Many consumers believe a strong sense of community drives them to be loyal to their favorite brands. To establish this, thirty-four percent of shoppers said they would like to join online groups, 32% want to be invited to in-person events, and 18% want regular brand-related content.
- Influencers have a wavering pull on consumers: Forty-four percent of shoppers said paid endorsements influence their opinion or loyalty to a brand, much lower than the 76% that said family and friends’ opinions matter more. Fifty-six percent said that media coverage also swayed their opinions and decisions more.
“The past two years brought on challenges no brand could have anticipated, regardless of the space they’re in. At the same time, it’s opened the door to several opportunities for brands to create more meaningful connections with their customers and to establish loyalty,” said Tom Caporaso, CEO of Clarus Commerce. “Understanding what makes a customer loyal, however, is only half the battle. If retailers want to truly move the needle and drive their loyalty forward, they must act, leveraging these insights to improve elements throughout the shopping experience that customers value most.”
