Survey reveals declining brand loyalty
Shoppers may set out to buy a particular brand, but three out of every four (76 percent) said they are likely to change their mind as they shop, according to a new survey on brand loyalty.
Survey respondents were asked to rank various factors they consider when making a purchase. Value topped the list, with 83 percent saying value based on price paid was the No.1 factor. Nearly as important was quality, at 80 percent. Reputation ranked first for 47 percent of those who took part in the survey, followed by service at 39 percent.
Asked how they typically learn about products and services, the clear favorite was online browsing, favored by 79 percent of consumers.
Word of mouth followed at 56 percent, edging out friends' social media posts, which influenced purchase decisions for about half (49 percent) of consumers. Nearly one-third (30 percent) of respondents said their decisions are influenced by a brand or retailer they follow on social media.
Six of every 10 consumers who took part in the poll said they have at least considered purchasing a product after seeing a post about it from a social media influencer.
The recent study involved about 1,000 participants representing a range of household incomes, geographic locations, age and gender across the U.S. Ad-tech company Adtaxi analyzed the data.