When it comes to shopping, consumers are fairly open-minded—after all, just 4% say they only consider one brand when making purchases, according to new research from BuzzFeed and media agency network Wavemaker. But a whopping 72% say they only consider two to four, which is why brand loyalty should always be a top consideration for brands.
Eighty percent of consumers say they’re either somewhat loyal or very loyal to the brands they buy. The top factors that keep them coming back are products being worth the price (30%), brands providing superior quality products (24%) and brands doing what they say they will do (22%).
“Today’s abundance of choice has brought about a significant paradigm shift in consumer loyalty,” said Karima Zmerli, chief data science officer at Wavemaker. “Consumers want to know: Does the brand include me, love me, and will it evolve over time to meet my needs? As marketers, we must evolve to more deeply understand these audiences—what attributes are most important to them, what actions they take along their journey, what touch points impact conversion and more—otherwise we risk being filtered out.”