Austin Coffee Bar

The Demise of Brand Loyalty
It is said that brand loyalty only belongs to those who are in their senior years. It is expected that people in the senior years will more than likely buy the same brand through the years. However in recent market surveys this is not the case anymore. That is why it is concluded that the millennial mentality has reach those in their senior years and started to affect them as well. But when we pause and reflect about it, the millennial attitude of wanting the best products and customer service is not a bad thing actually.
Maybe brand loyalty is what makes companies have a tendency for laziness when it comes to their products and customer service. They used brand loyalty as an excuse to rest on their laurels and not improve. But the mindset of customers these days have changes including those of our grandparents. They are more prone to buy something if they are satisfied with product there and the customer experience as well.
Where Brand Loyalty Still Exists
There are still some brands where you can find people exercising brand loyalty. One such item where this exists is fine jewelry. The next one is luxury cars. There is still automotive brand loyalty for luxury cars. People choose to have automotive brand loyalty for cars that show their status in life. They practice automotive brand loyalty when they know that using such car will give them high status in society. That is why it is easy to see rich people who are practicing automotive brand loyalty. They will be keen to maintaining such automotive brand loyalty because there are few luxury cars in the first place.
For the other things that are sold in the market brand loyalty is in the demise. if you have a business you may get an idea that you can get to revise such trend by making an offer of a loyalty program to your customers. Maybe your loyalty program will consist of ten percent off from the regular price. But you should know that such kind of programs do not work anymore. People may subscribe to this at the start but they often would choose not to renew being members of such a program. This shows that this method is not an effective one in contributing to your business’ bottom line.
So what does this mean for businesses when consumers are not prone to brand loyalty anymore? What this means is that they would have to put in the time, money and effort so that they can innovate. They also need to ensure that they are doing their best in the field of customer service.