In an age where competition is fierce, brands need to inspire loyalty. Driven by new and progressive ideas and channels, consumers have more power and influence than before. The challenges of 2020 drove consumers to demand more from the brands they support, and those that don’t heed the changing needs of the consumer will be left behind.
The State of Brand Loyalty global consumer survey notes that respondents rate themselves more brand loyal
in 2020 than in 2019, with figures increasing from 24.0% to 26.4%. Additionally, consumers show increased
loyalty to their brands and are willing to spend more with them even if more cost-effective options exist, with
numbers rising from 34.5% in 2019 to 56% in 2020.