Brand Loyalty Blog Series: Does Age Really Matter

For anyone in the CPG industry, brand loyalty is a major issue that continually receives (or should receive) a great deal of attention. With the rise of online shopping and the sheer abundance of availability, brand loyalty has become even harder to capture, and thus paying attention to what creates or destroys brand loyalty is crucial.

A few months ago we posted an article that talked about generational brand loyalty, and we were pleased to find that this sparked a great deal of thought and healthy debate. With this in mind, we’ve decided to do a 4 part series looking at the various factors that seem to impact brand loyalty, starting off the series by revisiting the issue of age and whether it really matters!

According to a survey done by Adroit Digital, when it comes to millennial (age 18-33) brand loyalty, age does matter. Although survey respondents did report being as loyal as their parents - if not more loyal - this group did note that retailers and brands do have to work a bit harder to garner that loyalty.
 

Also interesting, this same survey found that millennials based their brand loyalty on different factors compared to their elders, things like social and mobile ranking far higher than their parents. This means that different methods need to be employed when targeting different age groups.

So how loyal are they? Based on the answers given, approximately 1 in 5 said that they are brand loyal and are using the same brands their parents use. Another 43% said that they use many of the same brands, if not all. Taken together, this represents a whopping 63% of respondents who claim to be as loyal as their parents.

These positive statistics are somewhat countered by the fact that the survey found that many millennials agree that their own brand loyalty shifts as they age, as they begin to make their own choices about which brands they prefer. This may be as a result of shifting family situations or changing financial positioning. That being said, this doesn’t mean that this group then becomes less loyal, it just means that their loyalty shifts.

Ignoring the difference in brand loyalty trends when it comes to age will often mean losing one group in exchange for the other. If this is an approach you want to take, just make sure that you are aware of the consequences!

For more about generational brand loyalty and how to tackle each age group please contact Storesupport Canada today by calling 1-877-421-5081. 

Generational Brand Loyalty: 25 Vs. 50 – Is There Really a Difference?

It seems as though generational brand loyalty has become a hot topic in the retail world –and we agree that this is for good reason. It is more than obvious that buying behaviour differs depending on age, but it isn’t enough to just accept that they need to be catered to in different ways. Without knowing what is important, how can you even begin to understand and develop a plan if you don’t know what this age group wants?

Check out this great infographic from XYZ University. Based on the responses of over 2000 Millennials (aged 18-33), the survey found some interesting and insightful information that you can take to the bank.

Findings:

• 64% of Millennials responded that they believe they are just as brand loyal, if not more so, than their parents.
• 52% say that brands really need to listen to customer feedback and respond to it.
• Women are more concerned about consumer-focused brands, eco-friendly brands and those that have a focus on fair business practices.
• Why they choose certain brands:
• 62% responded that price or value is a factor
• 55% take recommendations from friends as serious influencers
• 47% say brand reputation is a key factor
• As far as what influences brand perception, social media (60%) follows only television (70%) as the most important outlet.

Ignoring generational differences can be detrimental to your overall marketing campaign, not to mention your brand loyalty.  Making use of these findings and catering to those generational differences can make a big difference.

For more about those generational differences that influence brand loyalty please contact Storesupport Canada today by calling 905.847.6513.