Only 15% of British consumers believe strongly that it pays to be loyal to their favourite brands, according to a new survey by Epsilon.
However if brands can offer what consumers want – which half of respondents identified as being value and quality in the products or services they are offered – they have a good chance of encouraging customers to remain loyal.
The research, which was conducted among 419 British respondents, also shows that the recession appears to have made UK shoppers more frugal.
More than half (57%) of respondents said that they will shop around to find the best deal and just (15%) are prepared to pay the premium for luxury products and new-to-market products.
Looking at what drives repeat purchases, just over a quarter (28%) of British customers see rewards programmes as an incentive to secure their loyalty.
By contrast, value and quality in the products or services offered by retailers are deemed the most important criteria to earn loyalty from half of consumers.
Preferential customer service, good after sales service, convenience, and new personalised offerings or products also play important roles in shaping loyalty for up to one-third of consumers
See on econsultancy.com