Decreasing Loyalty

Our September survey laid it out pretty clearly: 53% of respondents agreed with the phrase “I have become less loyal to specific brands.” And that’s a sentiment that we expect to continue into 2023. Brands and retailers will — and should — continue their efforts to foster loyalty but reality will intervene here.

The fact is consumers will be more focused on two questions — “Who can give me the best deal?” and “What have you done for me lately?” — that will inevitably bump loyalty from the top of their list of priorities. How should brands respond? The Forrester Consulting study also revealed an increased emphasis by marketers on the kinds of loyalty programs and rewards that drive engagement and elicit loyalty. “Honestly, loyalty has always been a long-term marketing strategy.

It takes shoppers time to become loyal,” says Julie Companey, Director of Client Strategy, Grocery. “Brands have to work to win the shopper, and then work to preserve that loyalty with their services, promotions, reward structures. In a time frame when shoppers are becoming less loyal due to inflation, retailers will need to lean on these proven approaches, but also focus on converting shoppers who are trying them out.

It’s a share-of-wallet game right now.” IT TAKES SHOPPERS TIME TO BECOME LOYAL. Brands have to work to win the shopper, and then work to preserve that loyalty with their services, promotions, reward structures.

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