Retailers are leaning into discounts in response to push-back from consumers who feel pinched by inflation. But while discounts generate short-term sales, do they create long-term loyalty? That’s the main question SheerID sought to address in surveying more than 3200 consumers in the United States and the United Kingdom.
The survey, which was fielded by Centiment on behalf of SheerID, showed that enduring loyalty occurs when customers feel emotionally connected to a brand, and the best way to spark and nurture that emotional connection is by giving gated, exclusive offers to consumer communities, such as students, teachers, health-care workers, first-responders or the military.
Some other notable findings from that effort:
- More than 70% the respondents who belong to one of consumer communities identified by the survey said they would be likely to join a brand’s loyalty program to redeem an exclusive offer.
- More than 80% of such consumers check to see if a brand offers an exclusive deal. More than half said that an exclusive offer would motivate them to try a new brand, and 45% said they would even switch their loyalty from one brand to another if the brand had an exclusive offer for them.
“The findings of the 2024 Consumer Loyalty Report are clear: gated, exclusive offers to consumer communities cultivate an emotional connection with brands that builds long-term loyalty,” said Stephanie Copeland Weber, CEO of SheerID.
Click here for more from the survey.
