Health & Fitness

A Brief Rundown of

The Demise of Brand Loyalty
It is thought that baby boomers are those that are likely to be still loyal to the brands that they use. It is expected that people in the senior years will more than likely buy the same brand through the years. However there is market research that already disproves this expectation. Because of this it is thought to be that the millennial thing of switching brands is spreading among the baby boomers. But maybe this millennial thing of wanting the best customer service from brands is something to desire in the first place.
Maybe brand loyalty is what makes companies have a tendency for laziness when it comes to their products and customer service. It is what allows them to rest on their laurels so to speak. However the attitudes of customers are already changing even among those in their senior years. They want to get the maximum value for the money they spend so they want both great products and great customer experience.
Where Brand Loyalty Still Exists
There are some things where there is still brand loyalty. Fine jewelry is still among those brands where there are loyal customers. The other one is in luxury cars. Loyalty for cars is called automotive brand loyalty. People will only have automotive brand loyalty if the cars will convey their status. They engage in automotive brand loyalty when using the car allows them to maintain their high status. That is why it is common to find among the rich and famous automotive brand loyalty. They will be keen to maintaining such automotive brand loyalty because there are few luxury cars in the first place.
For the rest of the things that are being sold one could safely say that there is no more brand loyalty. if you have a business you may get an idea that you can get to revise such trend by making an offer of a loyalty program to your customers. Such a program of yours could involve discounted prices on the goods that you sell. But if you look into it by getting info about it you will see that such program rarely meets with success in inspiring brand loyalty. You may find some people taking up this offer at the start but you will soon found out after some time that less people are enrolling in the program. What this shows is that you cannot use this as your way of sustaining the bottom line of your business.
So what does this mean for businesses when consumers are not prone to brand loyalty anymore? Well this simply means that businesses must continue to innovate to offer high quality products. They also need to ensure that they are doing their best in the field of customer service.