Brand Loyalty Didn’t Die. It Just Shifted.
Brand loyalty isn’t dead. Contrary to popular belief brand loyalty is still very much alive, it has just taken a different form. You may not buy the same brand of mustard every time you go to the store as your grandmother dutifully did, but don’t you buy the new version of the same brand of cell phone every time it comes out? Isn’t there that one brand of jeans that always fits you perfectly? Brand loyalty isn’t dead, it has just shifted, and Millennials are leading the way to a new form of brand loyalty that empowers consumers more than ever.
Today’s brand loyalty is based on quality. The product must be of high quality, the means of getting it to the consumer must be of high quality, the customer service must be of high quality, and even the business practices of the company producing it must be of high quality. If there is a decrease in any one of these areas it could cost companies business. This leaves more room for startups to compete because they are basically on equal footing with established brands, and it gives consumers the power to demand more. Learn more about the new brand loyalty from this infographic!