Consumers more brand loyal in recession, finds report

By Emily Kearns, Richard Siddle

Published: 16 August, 2013

Retailers and leading grocery and drinks brands are ideally placed to win consumer loyalty, according to advertising agency JWT's latest Austerity Index report.

It found that up to 66% of consumers agree they are more likely to be brand loyal during these difficult economic times and that 84% actually expect companies and brands to make more effort to help them. Such is the opportunity that 10% more people feel more brand loyal than they did in the first wave of the report released in April.

The report reveals the various ways in which consumers are looking to make their money stretch further, with money-off coupons by far the most popular with 54% of shoppers using them.

Other ways include:

· Using loyalty point schemes (49%)

· Carrying out research online or with price comparison sites (49%)

· Shopping more at discount stores (43%)

· Using voucher codes online (40%)

· Using online or mobile vouchers or coupons (31%)

· Going to daily deal sites (22%)

The report states: "Brands that make efforts to connect with local communities by funding local initiatives (64%), supporting small businesses (69%) and even offering paid apprenticeships/training to help those out of work (73%) are all best placed to do well at this time."

Up to 65% of consumers surveyed said brands should help those most affected by austerity. "Regardless of strategy, it seems the door is wide open for brands to step in and help consumers," said the report.

* You can access the full report in our Insight section here

Printer friendly version