Will Your Customer Relationships Survive Infidelity?
At the outset of 2019, we have unequivocally entered a new era of extreme customer disloyalty. Consumers today are more disloyal than ever before; the once steadfast consumer retail environment primed to grow brand-loyal hearts has shifted to a more capricious climate, where product infidelity is now the norm.
In fact, according to a recent Nielsen survey, a whopping 32% of Americans claim they are more product-disloyal today than they were five years ago. Couple that with the notion that more than half of the top grocery retailers in the U.S. have also lost share of wallet over the past five years due to retail disloyalty—and it is clear that brands have a major cheating problem on their hands.
The fluidity of digital discovery is driving disloyalty in an era where choice is at an all-time high. Within U.S. grocery retail, Nielsen numbers show that while the average retail store is almost 7,500 square feet smaller, driven by a shift toward small-format and proximity stores, there are more than 9,000 more products available today than there were 10 years ago. And thanks to online shopping, assortment is also no longer limited by shelf space—it is restricted only by the number of products manufacturers are willing to produce. Nielsen – Read more…