Have you ever wondered what prompts consumers to stay loyal to age-old brands? Perhaps shockingly, it is not product innovation.
Propel Software recently conducted a survey of over two thousand U.S. consumers to “determine how and why they choose their favorite products.”
The results revealed that the COVID-19 pandemic drastically changed about sixty-three percent of consumers’ expectations.
In the wake of the inaccessibility of products and rising inflation, forty-two percent of consumers now value “high quality” over everything else.
“Affordability” came in second at thirty-nine percent, while “innovation” surprisingly placed last at thirty-six percent.
It appears that consumers are now valuing reliability and longevity in their products over everything else.
Thirty-eight percent of consumers also appreciate when brands have an online presence now more than ever.
In fact, forty-seven percent of people want brands to foster meaningful online communities and share helpful resources, such as how-to videos, on social media.
And if a brand shares outdated or inconsistent product information online, twenty-four percent of consumers are likely to stop purchasing their products altogether.