Friday, April 19, 2024

Shoppers drop loyalty for value

If 2021 is the year of ‘the switch’, then it’s safe to say these shoppers ‘ain’t loyal’.

Founder and director of Fifth Dimension Lyndall Spooner, believes consumers will walk away from known brands they have purchased with for years, to those that can effectively respond to the shift’s consumers have undergone.

“The pandemic has really disrupted our lives in so many ways,” Mr Spooner says.

“One of the key areas is how we think and what we value – and in turn this is changing how we shop.

“Covid pushed many people online not just out of necessity but increasingly by preference. Australia Post announced in May last year that online shopping had increased by 80% during the pandemic. This figure has continued to remain strong despite getting Covid community transmission under control.”

Mr Spooner says that consumers can research product and service options at speed, which means many people can switch to new brands in 2021.

“While the economy has bounced back from the depths of 2020, Australian businesses will need to work harder than ever in 2021 to retain and acquire new customers,” he continues.

“They will need to ensure their brands are distinctive, they are customer focused in their products and services and design engaging customer experiences that not only result in a sale but ensure shoppers will come back again.”

According to Mr Spooner, key things that consumers will look out for are:

  • Cheaper prices
  • More for less
  • Longer warranties
  • Better delivery options
  • Better customer support
  • Local customer service.

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