Cost, convenience, conscience: The three Cs impacting brand loyalty in the age of the digital shopper
By Jamie Saucedo, Senior Vice President of Business Operations at PFS
When we think of brand loyalty, many of us will think back to a series of personal experiences built up over a series of physical in-store interactions. But what does loyalty look like in today’s digital world when in-store interactions are becoming few and far between? As high street footfall continues to decline, many could argue that we are also seeing brand loyalty start to crumble – or at least what it had meant in simpler times.
The stark reality is that loyalty and the brand behaviours rewarded by consumers have rapidly altered over the years. In a recent survey conducted by PFS, which took a pulse check of the wants and needs of shoppers from 2021 to take forward to 2022, over one-in-five (20%) of consumers admitted to not feeling any emotional connection to a brand at all.
More interestingly still, the way brand connections are formed has also shifted. PFS’ research found that despite 51% of consumers agreeing that brand experience is often better in-store than online – when brand connections are made, it seems that they are stronger online (38% compared to 23% offline/in-store). This sentiment is echoed by 42% of respondents who agree they receive a more personalised experience online than in brick-and-mortar shops/stores, as they receive benefits such as personalised recommendations, sizing predictions and photo reviews.
So, with loyalty now leaning towards the online realm, what elements make up and define this now rare and precious commodity?
Here we explore the three Cs that are set to impact brand loyalty in the age of the digital shopper – cost, convenience, and conscience…
The viewpoint will go onto discuss:
- Cost and value for money are more important than ever
- Convenience has become table stakes
- The conscious consumer shouldn’t be ignored
Rebuilding loyalty…one C at a time