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Insight of the Day: Why do shoppers buy from you – Brand Loyalty or Habit?

The article discusses the findings of Intuit's report, "The Science of Loyalty," which explores the drivers behind consumer behavior and how marketers can build brand loyalty and cultivate meaningful relationships with customers. Here are the key takeaways from the article:

1. Role of Habit in Brand Loyalty:

- Over a quarter (28%) of UK repeat brand purchases occur due to habit, indicating the power of routine in consumer behavior.

- A fifth (20%) of re-purchases occur simply because a brand or product was readily available.

2. Importance of Trust and Convenience:

- Trust is the most important factor for British buyers, with 80% stating they will only buy from a brand they trust.

- UK consumers prioritize brands that consistently meet their expected standards (41%) and those that offer quick and easy purchasing experiences (34%).

3. Shared Values and Recommendations:

- Shoppers prefer brands that align with their personal beliefs, with 65% sharing values with their preferred brand.

- Recommendations from friends or family influence 47% of UK repeat purchasers.

4. Most and Least Loyal Sectors:

- Health & Pharma, Beauty, and Food & Drink are the sectors with the most brand loyalty, likely due to the need for regular replenishment purchases.

- Jewellery & Accessories, Books & Literature, and Home Goods & Furniture are industries with the least brand loyalty, possibly because of trend-driven products and less frequent purchases.

5. Factors Driving Brand Switching:

- Poor customer service across channels would prompt 30% of consumers to consider switching brands.

- Quality is more important than price for 71% of Brits, and substantial price increases (over 10%), unethical manufacturing, and unsustainable practices can drive consumers away from a brand.

6. Impact on Marketing Strategies:

- Marketers need to understand what drives consumers to return and repeat purchases.

- Factors such as trust, shared values, and customer recommendations play a crucial role in influencing brand loyalty, and marketers should focus on these aspects to build lasting relationships with customers.

In summary, the report highlights the complex factors behind brand loyalty, emphasizing that it goes beyond just love and devotion. Instead, factors such as habit, trust, convenience, and shared values play significant roles in driving consumer behavior and loyalty. Brands must focus on these aspects to create meaningful connections with their customers and retain their loyalty.

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