Brand Loyalty Statistics
Brands’ deep understanding of consumer preferences, interaction with clients through their preferred communication channels, and being there for the consumers when needed are key factors that drive US consumers to have brand loyalty. Also, reliability and durability, a brand’s values and stance on issues that are important to consumers, trust, and experiences with excellent products, service, reviews, advice, etc. motivate consumers to be loyal to a particular brand.
FACTORS THAT DRIVE UNITED STATES CONSUMERS TO BE LOYAL TO BRANDS
- More than half of consumers in the United States ensure brand loyalty only for the companies that communicate with them through preferred channels. By using different channels to talk to them, brands can improve customer retention strategies and minimize churning rates. According to Accenture, up to 51% of consumers in the US maintain brand loyalty for companies that engage them using preferred communication channels.
- Majority of US consumers are more loyal to brands that care about their needs. Wunderman’s study of ‘wantedness’ revealed that the majority (79%) of consumers demonstrated that brands must prove that they “care about me” before they consider making purchases. In addition, 56% of consumers become loyal to brands that “get them” and deeply understand their tastes preferences.
- In a survey conducted by Morning Consult involving 2,202 internet consumers in the US revealed that some consumers are always ready to commit to just a single brand. About 67% of Gen Xers and 75% of boomers said that when they find a product they like, they will become loyal to the brand.
- Up to 80% of consumers in the US gradually gain brand loyalty after a series of purchase due to customer experiences with the type of products or services offered, consumer reviews, and advice.
- The act of compassion by a brand can significantly influence customer loyalty. In a study conducted by Accenture, 81% of consumers are loyal to particular brands because such brands are usually there for them when the need arises. Also, more than 50% of consumers have switched brands as a result of poor experience during purchase.
- Personalized consumer experience can enhance loyalty towards a brand. According to LoyaltyOne, 38% of companies believe in consumer experience, and as such provide consumers with customized offers via their online apps while 48% engage their prospective customers through email before and after purchase.
- According to Morning Consult, up to 68% of millennials believe that reliability and durability of a product directly influence consumer loyalty towards a particular brand.
- In a recent survey conducted by Morgan Stanley, the number of iPhone owners whore planning to get a new phone from the same brand (Apple) in the next 12 months has risen from 86% to 92%. Samsung comes in second after Apple, with a retention rate of 77%.