Consumer Trends Analysis: Pandemic Impact on Brand Loyalty

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Exults offers insight on various recent reports detailing shifts in retail and eCommerce purchasing behavior.

Consumer Trends Analysis from Exults About Pandemic Impact on Brand Loyalty
"This year has proven how quickly and wildly the economy can change, so it will be important for companies to employ adjustable tactics such as digital marketing strategies to stay dynamic..."

The emergence of a global health crisis back in March affected just about every aspect of human life, and consumer behavior serves as no exception. Purchasing data now shows that concerns surrounding the health crisis, along with restrictions put in place because of it, forced consumers to rethink the way they buy goods and services.

A recent report from McKinsey declares that 75 percent of consumers have altered their shopping methods in some way since the pandemic arrived. With many storefronts ordered to close their doors during lock downs, more and more consumers began to embrace eCommerce. Additionally, shortages of certain products saw an increase in consumers purchasing new brands.

Furthermore, according to another report from Bazaarvoice, 39 percent of consumers worldwide bought products from new brands this year, and 88 percent of those first-time purchasers indicated they intend to continue buying these brands in the future. More than half of consumers in the U.S. (51 percent) resorted to purchasing brands they hadn’t previously known about, likely a result of more well-known brands selling out their stock due to higher demand.

Forbes also reports that consumer loyalty has decreased as a result of the pandemic, adding another challenge to the many obstacles retailers already face. Their conclusion comes from a study conducted by Wharton Baker Retailing Center and WisePlum that indicates consumers experiencing problems or delays when ordering goods were 35 percent less loyal than those able to purchase products without complications.

Luckily, there do seem to be several consumer trends brands can follow to maintain customer loyalty even during these trying times. For example, customers were more likely to remain loyal to a company if it was quick to resolve issues on the first attempt. Impressive customer service in the face of mistakes can restore broken trust among consumers, convincing them to purchase from a business even after experiencing difficulties.

“While businesses figure out new ways to interface with customers, it’s important to keep a ‘human’ element in their approach to retain brand loyalty,” said Zach Hoffman, CEO of Exults Digital Marketing Agency. “That means providing clients with clear ways to get support and provide feedback. Companies must also demonstrate an understanding of the concerns and perspectives of their prospective customers and clients through their communications and marketing on platforms like social media and their website.”

Connecting with consumers emotionally is also a necessity post-lockdown, and one way companies can successfully accomplish this is by placing their focus on health and safety. It appears that, post-shutdown, consumers are more concerned than ever with health and safety protocols. If companies are increasing efforts to keep staff and customers safe, they’re likely to win the respect of those frequenting their stores.

Of course, even with safety measures in place, many consumers continue to prefer online shopping based on the 15 to 30 percent reported growth in online shopping and continued rise in the use of contact-less services.

Hoffman added, “Adaptability is key for any business, but especially those reliant on eCommerce for their success. This year has proven how quickly and wildly the economy can change, so it will be important for companies to employ adjustable tactics such as digital marketing strategies to stay dynamic going forward.”

For more information and insight into digital marketing, please visit the Exults website.

More About Exults Digital Marketing Agency

Exults Digital Marketing Agency is a full-service internet marketing company that is results driven. Offering a complete range of digital marketing services to reach clients’ goals, Exults premier services include Website Design and Development, eCommerce platform development and management, Search Engine Optimization, Pay Per Click Management, Social Media Marketing, and Digital PR. If you are interested in using targeted advertisements to spark meaningful engagement and online sales, contact Exults Marketing Agency.

For more information, please visit the Exults website (https://www.exults.com/) or call 866-999-4736.

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George Eisner
@exults
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