We’ve blown through Black Friday and Cyber Monday and while most reports just focused on total sales the fourth annual Breakout BrandsTM survey by rbb Communications reveals customer loyalty is the real story.
Results show that it would take more than $220,00 to bribe customers away from their favorite products. And 93 percent would be willing to pay more in the future for brands the feel an emotional connection with, up 10 percent from when this was measured in 2012.
Impulse buying has hit an all-time low of nine percent according to the survey, emphasizing the high value consumers place on brand loyalty.
With such easy access to product reviews on the web it’s no surprise that more than 90 percent of those responding to rbb conduct some sort of research before making a purchase decision.
Some of the buying attitudes reported are:
• 62 percent would allow a significant other to make all their major purchase decisions for the next six months.
• More than 65 percent said they will be loyal to a company that provides value as defined by best quality for the best price, whereas poor quality products and bad customer service are the top reasons why Americans leave a brand.
• Gen Z, Gen X and Millennials were more likely to pay 50-100 percent more for a product they felt put them first, over value, customer service and experience (compared to Boomers), and are more likely to want a customized product.
“Creating emotional connections between customers and brands is priceless,” rbb’s CEO Christine Barney said. “Companies can achieve that emotional connection and see the impact on the bottom line by adopting the key tenants of Breakout Brands – put the customer first, innovate, and communicate with soul.”
With so many companies tempting consumers with all sorts of rewards programs it turns out quality and price are still by far the most important factors in a purchase decision for 66 percent of those questioned. Only 41 percent cited purchase rewards as a primary incentive.
Apple comes in as the number one brand in the U.S., bumping Amazon down to second place followed by Samsung, Google, Nike, Tide, The Honest Co., Walmat, Kellogg’s and Uber and Tesla tied for 10th.
Results were compiled for rbb by Wakefield Research which surveyed 1,162 adults nationally between Oct. 5 and Oct. 12, 2016 using an email invitation and online survey. Quotas were set to ensure reliable and accurate representation of the U.S. adult population ages 18+.
Miami-based rbb Communications was founded in 1975 and focuses on consumer products, education, food & beverage, financial & professional services, health & fitness, real estate, family entertainment, and travel & leisure. It is one of the top 50 PR firms in the U.S. according to O’Dwyer’s ranking of PR firms.
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