Today’s rising costs aren’t just haunting consumers - they’re impacting brands as well. 58% of U.S. adults indicate that they are less loyal customers to brands due to higher prices. But that doesn’t mean your brand should be scared stiff, we have some tricks so you can better align with your audience.
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TLDR: As rising costs are scaring consumers away from their favorite brands, companies don’t have to fly the white flag of defeat. They can use these tricks and treats to meet consumers where they are.
Trick #1: Conjure multiple touchpoints for custom experiences.
From visiting stores to shopping online to using mobile apps, consumers now prefer an “all-of-the-above” approach to shopping. So just because a shopper may learn about a product in one location, it isn’t necessarily the same place they shop for it. Keeping this in mind will keep your brand from a nightmare scenario.
Trick #2: Bewitching loyalty programs.
Customers love it when a loyalty program delivers real value. According to a 2024 report from Merkle, discounts are the most likely incentive to put a consumer under a spell. The next favorite? Surprise offers/rewards and exclusive benefits. In fact, 91% of consumers believe loyalty points and rewards are a fair incentive for volunteering info while 90% will give that info for discounts or coupon
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Trick #3: Personalized experiences for every stage.
Personalization helps brands stay enchanting throughout the full consumer journey. 84% of shoppers agree they are way more likely to engage with personalized offers that are tailored to their interests. So consider personalizing your promotions with product offers based on previous purchases, especially during the loyalty stage.
By tailoring personalized experiences, giving discounts, and offering multiple touchpoints, brands have more than a ghost of a chance of raising consumer expectations that will ultimately foster a more lasting loyalty.
STRIKING STATS
91% of consumers say their favorite brands treat them like an individual. (Source: Marigold)
US buy now, pay later (BNPL) user growth is slowing, plummeting from 97.0% in 2021 to just 6.9% in 2024. (Source: eMarketer)
36% of Gen Zers say hybrid shopping is their primary buying method, more than any other age group. (Source: IBM)
LIGHTNING ROUND
Lauren Klas (1) celebrated her Ammoversary.
Ammunition welcomed Emily Kurek, Creative Director, to the Creative team.
