Consumers drop loyalty for worth

If 2021 is the year of “change” it is safe to say that these buyers are “not loyal”.

Fifth Dimension Founder and Director Lyndall Spooner believes consumers will move away from well-known brands that they have bought with for years to those that can effectively respond to the changes consumers have been through.

"The pandemic has really disrupted our lives in so many ways," says Spooner.

“One of the key areas is how we think and what we value – and that in turn changes the way we shop.

“Covid has pushed many people online not only out of necessity, but increasingly also out of preference. The Australia Post announced last May that online shopping had increased by 80% during the pandemic. That number has remained strong despite the broadcast brought under control by the Covid community. "

According to Spooner, consumers can quickly search for product and service options, which means many people can switch to new brands in 2021.

"As the economy bounces back from the depths of 2020, Australian companies will have to work harder than ever to retain and attract new customers in 2021," he continues.

"They need to make sure their brands are distinctive, they are customer-centric in their products and services, and they create engaging customer experiences that not only result in a sale, but also ensure that buyers come back."

According to Mr Spooner, the most important things that consumers will look out for are:

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

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