The current economic climate has challenged loyalty with brands, as more cost effective products are making their way into our shopping trolleys.
The recession has led to consumers caring less about their loyalty to the brands they use, as a lot more people are willing to try new things at better costs. The recession has caused a lot of buyers to re-think their shopping habits and instead think about being more cost conscious when it comes to what they put in their trolley.
With women making 80% of the shopping decisions for the household, more women have claimed to be a lot more careful about how they spend their money now than they did four years ago. According to the findings in a recent report, entitled ’21st Century Woman’ published in Glamour magazine, 50% of women have claimed to have stopped impulse buying and 75% are now shopping around for the best prices on offer, rather than household names.
This opens a door for challenger brands to get consumers trying their products over leading brands. A great way to engage consumers with food and drink is to simply get them trying your products in an exciting way that’s gets thinking about your brand. Through our Hotcow panel research, we discovered that a fantastic 64% of consumers will make a purchase after their product trial and it is likely that 80% of those consumers will make a continued purchase if they liked the product.