The change in buying approach is not entirely a post-pandemic trend. In 2019, a study of more than 34000 customers by Verint® Systems Inc. stated that brand loyalty has steadily declined for years. More than 60% of the people interviewed in the study said that it was very likely for them to switch to a competitor with better customer service. A report by Accenture Strategy found nearly 90% of buyers were quicker to shift to a new brand than they were three years back.

1. SPOILT FOR CHOICE – IS BRAND
LOYALTY OF BUYERS A THING OF
THE PAST?
Mindfire Solutions is a 20+ years old, 650+ people software
development and testing services company with a global
clientele. We offer custom web and mobile solutions for
companies across all major industries.

2. The Covid 19 pandemic has seen variants across the entire spectrum
of human behavior, including consumers’ brand loyalty. The latest
McKinsey reports, “In the US, more than 60% of consumers who
tried a new behavior plan to stick with it post-crisis.”A second
study agreed, saying that 62% of people who changed their
preferred brand pre-pandemic will most likely make it a permanent
change.
Research says during the pandemic, consumers have changed their
shopping choices.When they didn’t find a particular product with a
specific retailer, they moved on to a different brand.This causes
supply chain disruptions globally. Availability, convenience, and
comfort took precedence during times of scarcity.
We cannot overlook Post pandemic changes in consumer behavior
as temporary. It can shape the future trajectory of brands and
customer relationships.

3. The change in buying approach is not entirely a post-pandemic
trend. In 2019, a study of more than 34000 customers byVerint®
Systems Inc. stated that brand loyalty has steadily declined for
years. More than 60% of the people interviewed in the study said
that it was very likely for them to switch to a competitor with better
customer service. A report by Accenture Strategy found nearly
90% of buyers were quicker to shift to a new brand than they
were three years back.
Brand Loyalty Is AThing OfThe Past
Brand loyalty is not just declining. It is quickly diminishing. In the era
of e-commerce and social media, buyers have plenty of choices.
There has been a mass migration of buyers onto the internet.
Billboards and television ads are almost dead. Hence, consumers
today tend to be more versatile and less loyal than ever. Research
on consumer satisfaction indexes has long proven that despite
having a positive experience with an existing brand, satisfied
consumers are less likely to buy the same car, shampoo, or washing
machine again.

4. Previous research indicates that customers are invested in a brand
for reasons like consistency, increase in value, quality, reward
points, personalized gifts, etc.Today, brands are struggling to recall
value. Between times of loyalty to no brand loyalty, the world
around us has gradually but significantly shifted.
Reasons For Changing Consumer Behavior
Some of the reasons that can explain the changing consumer
behavior are:
Product Availability – With shutdowns happening since 2019,
many products went off the shelves. Despite preferences,
consumers found more options – similar and sometimes better in
quality.
Exposure to online reviews – Customers used to listen to brands.
Now, they have the option to read online reviews and assess the
product’s quality. We see people reading an online review and
saying, “I am going to try it,” now more than ever.

5. Customer service – More than 85% of customers say that excellent
customer service is a ‘make it or break it moment’ for them when
selecting a service provider.
Convenience –When a diverse range of products is available at
a screen swipe, an average buyer wants maximum comfort. 68% of
consumers say they intend to engage with a brand that makes it
easy for them.
Technology – Close to 50% of customers say that they are more
likely to stay loyal to brands with improved technology than their
counterparts.We often associate good tech with better customer
engagement.
Human contact – In sharp contrast to the previous point, while
many customers prefer self-service, they also find it comfortable to
engage with a person across phone and digital platforms. Non-
availability of people in customer service proved to be a firm no-no
for buyers.

6. While customer service has improved across services, some
outperforming brands and retailers have set the bar high.Today’s
world is fast evolving to provide the best shopping experiences
online. Buyers don’t have to be on their feet all day hopping from
one store to another. It is not enough to be good or better. Be the
best to stand a chance at winning the buyer’s brand loyalty.
Value for Money
“Value for money” is the primary reason to switch brands more
often. Increasing global awareness of ethical, sustainable, and
value-based brands (e.g., supporting local businesses) are some
reasons why buyers choose to move away from certain brands or
products.
Another challenge for retailers when retaining loyal customers on
the internet is competing for the buyer’s attention, engagement
and consistency. While it takes time to nurture such loyalty, in the
face of the bombardment of information on the internet, people
who want to buy do not have the attention span for one particular
brand.

7. Conclusion
The soar in online shopping is unlikely to decline after the pandemic
abates. For brands to maintain a solid relationship with their
valuable customers, they must keep a firm grip on their brand
loyalty programs. Instead of running isolated programs around
marketing, companies should integrate brand loyalty goals into
all departments such as operation, finance, and technology. It is
crucial to ensure seamless coalescing of operation, marketing, and
the tech footprint of the company to build brand loyalty. Swift and
smooth returns, replacements, and refunds, with efficient and polite
customer care, are essential success factors for a brand. Couple it
with a user-friendly online interface. And you have the success
mantra for customer retention in the long run.
Mindfire Solutions provides robust IT solutions and a user-friendly
online interface that can help you bridge the gap with your
customers. Connect with us to know more about solutions that can
help grow your business.

8. THANKS YOU
Contented by: Mindfire Solutions
US East Coast: +1 248.686.1424
US West Coast: +1 248.631.4210
sales@mindfiresolutions.com