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BizReport : Loyalty Marketing : May 22, 2013

Survey: UK consumers re-think loyalty to brands

If UK brands are finding it tough to acquire and retain loyal customers, it may have something to do with the country's tough economic environment, as a recent survey from Epsilon suggests.

by Helen Leggatt

UK_cover.pngConsumers in the UK are being cautious with their finances, and who could blame them? Over half (57%) now shop around for the best prices and just 15% are willing to shell out extra for luxury branded items. Future prosperity is also being looked on negatively, with more than three-quarters (77%) experiencing low savings rates.

The knock-on effect for brands is that brand loyalty is taking a back seat. Just 15% of consumers in the UK believe strongly that there are benefits to being loyal to their favorite brands.

According to Epsilon's 2013 Consumer Loyalty Study (infographic), the top five drivers for loyalty behavior are:

- Consistently good quality products and service (53%);
- Best value for money (50%);
- Treat me like a valued customer (33%);
- First time good shopping experience (30%);
- Good after sales service/support (29%).

"Loyalty appears then to be the new frontline of competition in retailing. 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," said Phil Singh, Vice President of Sales EMEA, Epsilon.

Tags: brand marketing, consumer survey, ecommerce, loyalty marketing, UK

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