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Loyalty barometer in 2021 From Merkle

The following is the Loyalty barometer in 2021 From Merkle recommended by recordtrend.com. And this article belongs to the classification: research report, network marketing.

According to a Merkle report, 57% of consumers are still loyal to a certain brand. But being loyal to a brand and buying its products are two different things. Nearly half (49%) of the more than 1500 consumers surveyed said they did not stop buying a certain brand of products because of the epidemic in 2020, while the other half stopped buying for various reasons.

A quarter of the respondents (24%) spent less due to changes in their financial situation, which is why they stopped buying a brand. This tight fiscal position can be seen early in the new crown pandemic. A Gallup survey found that in April 2020, 51% of U.S. consumers reported spending less than before.

Valassis also found that 64% of consumers believe that purchasing power is a factor affecting the purchase of a specific brand. Merkle’s report found that some respondents said they started using a brand because it offered better discounts or prices than previous brands.

On the other hand, taking a stand on a certain issue may also cause some people to stop buying the brand’s products. 16% of respondents said they stopped buying a brand because they didn’t agree with the brand’s position on social issues.

Loyalty program

When it comes to joining the loyalty program, consumers are more likely to be attracted by discounts (44%) or earning free products (26%) this year.

Other points:

Being able to earn points in exchange for discounts is the preferred type of loyalty program;

The biggest benefits and rewards of loyalty program are discount (70%), free products (65%) and free samples (51%);

However, consumers do not like to spend too much time to get rewards (45%), or rewards are very difficult to get (31%);

More than half of them are willing to use their purchase history (54%) or current reward status (54%) to provide relevant rewards;

In return, consumers want personalized offers (64%).

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