Shopping around

More evidence that brand loyalty is becoming a thing of the past. The latest survey of the UK market by Experian shows the impact of the recession on increasingly fickle consumers. Half of all consumers say they are now less loyal than they used to be. Instead of sticking with a favourite brand, they’re shopping around: three quarters of consumers say they are increasingly price-aware. And behind this behaviour, they’re mistrustful: an astonishing 40% think companies are unfair to customers. These attitudes have taken root - they won’t change as we come out of recession. So what’s the future role of brand? It’s not about image but reality: brands must inspire tangible new products, services or experiences that offer genuine value. See the report here.

(Robert Jones)