The Ultimate Guide to

The Demise of Brand Loyalty
It is said that brand loyalty only belongs to those who are in their senior years. It is expected that people in the senior years will more than likely buy the same brand through the years. But this is not entirely true anymore according to market research. That is why it is seen that the millennial attitude regarding brands has started to affect the baby boomers. But when we pause and reflect about it, the millennial attitude of wanting the best products and customer service is not a bad thing actually.
If you continue your reflection you may even be able to come to the conclusion that brand loyalty is what enabled businesses to be lazy about their affairs. They used brand loyalty as an excuse to rest on their laurels and not improve. Customer’s attitudes are changing now even those of the baby boomers. They are more prone to buy something if they are satisfied with product there and the customer experience as well.
Where You Can Still Find Brand Loyalty
You can still be able to see brands where there is brand loyalty among its customers. Fine jewelry is still among those brands where there are loyal customers. The next one is luxury cars. Loyalty for cars is called automotive brand loyalty. The reason why people have automotive brand loyalty is because of status. They engage in automotive brand loyalty when using the car allows them to maintain their high status. That is why it is easy to see rich people who are practicing 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 other things that are sold in the market brand loyalty is in the demise. 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. Maybe your loyalty program will consist of ten percent off from the regular price. But if you research about it you will find that this kind of program does not gain much success anymore. People may subscribe to this at the start but they often would choose not to renew being members of such a program. This means that you simply cannot rely anymore on brand loyalty as the source of you continuing sales.
What does this mean then for the many businesses today? This shows the importance of innovation for the different businesses. In addition they must continue giving excellent customer service.