Authenticity key among global shoppers in brand loyalty
As the trend towards more thoughtful buying continues, authenticity has emerged as a crucial new driver of income and loyalty among global customers.
More than two-thirds of global consumers (67 per cent) would spend more money with retailers they believed to be authentic, with 59 per cent saying they would only shop with authentic retail brands, according to the “How To Sell Direct In The Age Of The Conflicted Shopper” report from Asendia, an e-commerce and mail-delivery solutions company.
Asendia said the key elements of authenticity are meeting promises, openness in supply chains, support for sustainability, clear brand values, and openness in supplier relationships.
Seventy-three per cent of worldwide consumers agreed that authenticity increased their brand loyalty, while a further 65 per cent said they would switch to a rival if they felt a merchant wasn’t genuine.
“Brands and retailers need to take control of their destiny when it comes to shaping the authentic shopping journeys consumers are now demanding,” said Renaud Marlière, global chief of business development at Asendia.
“Shoppers increasingly expect accountability and transparency from retailers, whether through greater transparency around supply chain emissions, delivery promises or offering low- or carbon-neutral shipping options.”
Authenticity is also helping merchants ward off increased price sensitivity among consumers in the backdrop of economic global headwinds and the rising cost of living placing more strain on household budgets and discretionary expenditure.