The shifting tides of the U.S. economy, the dynamic digital retail landscape and evolving consumer preferences are triggering seismic changes in brand loyalty, a new study from SAP Emarsys concludes. In a year marked by loyalty erosion on a global scale, the U.S. experienced the biggest such decline in terms of those who are loyal to one brand or more, plunging from 79 percent in 2022 to 68 percent in 2023.
“Rather than being discouraged by this drop in customer loyalty, marketers should take full advantage of this opportunity to enhance their loyalty strategies and deliver exceptional customer experiences,” said Kelsey Jones, Global Head of Product Marketing, SAP Emarsys. “Consumers now expect their loyalty to be rewarded by personalized and value-adding experiences. Achieving this level of customer devotion is made possible with AI-driven technologies, empowering retail marketers to gain precise insights into customer preferences, so they can deliver perfectly timed and tailored experiences at every touchpoint.”
SAP Emarsys, which provides customer engagement for such companies as Gibson, Puma and Pizza Hut, surveyed more than 10,000 individuals worldwide, including 4000-plus in the U.S., for its latest brand loyalty report.
Click here for more from the survey.
