Abstract
Overview
Introduction
As many consumer goods markets and segments reach maturity the importance of customer retention has become an even greater issue especially as the number of new customers available becomes increasingly small. Deep brand loyalty is the ideal goal of any marketer, bearing in mind the often-stated link between loyal customers and increased profitability.
Scope of this report
- Quantitative data from Datamonitor' s proprietary multi-nation consumer surveys highlighting the extent of consumers' variety-seeking behavior.
- Insights into the varying levels of importance consumers ascribe to brands with specific national and demographic perspectives.
- Adaptations and summaries of leading academic frameworks aligned with real world brand purchase issues.
- Detailed action points offering practical strategies and examples of best practice innovation and marketing campaigns.
Research and analysis highlights
Nearly half (45%) of consumers across Europe and America believe that there is too much choice when making most purchase decisions. Nevertheless, consumers also think it is important to be open-minded about trying new experiences.
Brand loyalty appears to increase with age in Spain, as brand loyalty is considered important to some degree by almost 60% of consumers aged over 50. Brand loyalty increases further among those aged 65 and above.
The added choice characterizing the consumer marketplace today is both a driver and an inhibitor of brand loyalty. On one hand, more promiscuous, experimental consumers are encouraged to explore new things. In contrast, time-pressured shoppers feeling overwhelmed by daily obligations are choosing tried and trusted brands.
Key reasons to read this report
- Explore national differences through quantitative and qualitative market data and compare different nations to plan for future developments.
- Gain insight to better understand consumer brand purchase motivations and demotivations.
- Access valuable action points that highlight the way forward by examining existing best practice and new innovations.
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