How Consumers’ Loyalty to Brands Has Shifted Throughout the Pandemic
Study shows changing shopping habits over the past 2 months
The majority of American consumers are willing to nix their tried-and-true brands for competitors in order to get what they need when they need it.
Profitero, Getty Images
Key insights:
- Consumers are more likely to try new brands for products that can be swapped with little change in performance.
- Consumer behavior such as online grocery shopping is expected to continue even after the pandemic wanes.
- Covid-19 has provided an opportunity for brands to explore consumer substitution behavior and stay ahead of it to avoid lost revenue.
There’s good news and bad news for brands biting their nails during the pandemic, holding out on the hope that their former loyalists will come back when circumstances “normalize.” The good news? Consumers are creatures of habit, and as retailers begin to restock their preferred toilet paper or shaving razor brand, they often flock to what they know and love.
