Study: 76% of Consumers with a Preferred Brand are Likely to Change Their Mind

Sep 18, 2018


BEST PRACTICES SERIES

In the fast-paced, competitive, and evolving world of retail, it seems brand loyalty is fleeting. According to the latest survey released today by Adtaxi—which provided an extensive nationwide look at American purchasing habits—consumer preferences are highly subject to change, even among those with a favorite, go-to brand.

Among the study’s highlights:

  • 75% of respondents indicated they have a preferred brand when shopping—but among them, 76% reported they are likely to change that preferred brand.
  • When considering making a purchase, price value is the number one factor consumers rely on (83%), followed by quality (80%), reputation (47%) and service (39%).
  • 79% say they typically learn about products and services by browsing online– beating out word of mouth which was cited by 56% of respondents.
  • 49% say their purchasing decisions are influenced by friends’ social media posts, closely followed by 30% saying their decisions are influenced by a brand or retailer they follow on social media.

In addition, the study also examined the growing impact of influencer marketing. Among the key findings:

  • A majority (59%) of respondents have at least considered purchasing a product after seeing a post about it from a social media influencer. Among them, 56% ended up completing the purchase.
  • Over a quarter (26%) say their purchasing decisions are impacted by social media influencers, and 24% put the same level of trust in friends and influencers when it comes to product opinions.

Related Articles

Global technology consulting firm integrates the Nuxeo Content Services Platform into its portfolio.