Store Brand Loyalty?

Photo by gariphic

Should you be loyal to your store due to the branding that it offers? I've never had much brand loyalty. Almost none. Maybe it's because I don't watch TV. The "new" way has always been my way. Suddenly, what I do is in fashion.

A recent IBM survey of 30,000 people uncovered several trends that speak to the dawn of a new day in

consumerism.Some 90% of those polled are changing what they spend to some degree.

That may seem like a no-brainer to many of you. Consider, however, that 90% of the general population is not facing hard times.

What's happened is that our psychology has shifted to a place where we're all worried and feeling pinched even if we're not in reality.The biggest revelation from the IBM survey is that 30% of those polled have become what are called "shifters." That means they have absolutely no store or brand loyalty; they just want the most for their money wherever they can get it. Of course, that also means 70% are still brand and store loyal, but the best deals will obviously flow to the 30%.

One final thought: Just because we're facing tough times, it doesn't mean that things will always be this way. That kind of belief -- that our economy will just keep going further down -- is called "inertia bias" in psychology and economics. But it's not true.
So it's not a question of "if" the economy will recover -- it's a question of "when."

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