Most Consumers Will Dump A Trusted Brand For Better Prices- Study
Loyalty is only skin-deep, judging by a new study from Cordial.
Of consumers surveyed, 70% are willing to shift from a trusted brand to obtain a better price. In addition, over 50% require “relevant” discounts when making purchasing decisions.
However, 74% say economic changes have made them more likely to enroll in a loyalty program.
Yet 56% of B2C marketers have not discounted or adjusted their prices.
Moreover, 58% of marketers feel their loyalty programs are ineffective or only somewhat effective.
Cordial, which works with such brands as Eddie Bauer, Orveon, JOANN, and Revolve, surveyed over 1,000 consumers and B2C marketers.
Credit: Media Post