Brand Loyalty Fading Among Americans
Consumers are not as loyal as they once were, according to data released this week. The findings come from a look into the purchasing habits of American consumers — analyzed by Adtaxi, an ad-tech company supporting multiple marketing channels.
The study was conducted online using Survey Monkey. About 1,000 participants were polled in the United States. Those responding represent a range of household incomes and geographic locations, as well as age and gender.
Among the findings, 75% of respondents admit to having a preferred brand when shopping, but 76% of those said they are likely to change their mind as they shop.
Some 83% cite value based on the price paid as being the No. 1 factor when considering making a purchase, followed by quality at 80%, reputation at 47%, and service at 39%.
Consumers, at 79%, said they typically learn about products and services by browsing online — ahead of word of mouth, which was cited by 56% of respondents.
About 49% said their purchase decisions are influenced by friends’ social media posts, closely followed by 30% saying their decisions are influenced by a brand or retailer they follow on social media.
Word of mouth on social media sites still holds merit. Nearly 60% of respondents have at least considered purchasing a product after seeing a post about it from a social media influencer. Among them, 56% ended up completing the purchase.
About 26% said their purchasing decisions are impacted by social media influencers, and 24% put the same level of trust in friends and influencers when it comes to product opinions.