Consumer loyalty and emotional connection to a particular brand are the highest they have been in decades due mostly to the combination of social/mobile technology, competitive pricing, and brand engagement. According to Retail Customer Experience, Victoria’s Secret and Nike rank the highest in apparel and athletic sportswear respectively and exemplify this highly saturated approach retailers are now taking to reach their customers.
From the article:
In the retail category expectations are up nearly 19 percent while the retail brands have only grown by 4 percent; that′s one of the critical findings in the 18th annual 2014 Brand Keys Customer Loyalty Engagement Index (CLEI), conducted by the New York-based brand and customer loyalty and engagement research consultancy, Brand Keys.
For all 45 brands tracked in the retail category (including online, apparel, department stores, home improvement, discounts, sporting goods, price clubs and natural food stores), emotional engagement expectations related to “brand buzz,” “shopping experience” and “value-for-dollar” exerted the strongest influence on consumer decision-making and engagement with brands.
“Congratulations to the companies that continue to create meaningful differentiation and engagement,” said Dr. Robert Passikoff, President, Brand Keys. “Our validated and predictive metrics prove that brands able to better meet consumer expectations act as surrogates for added-value, engendering engagement and loyalty than those based on the primacy of product and a coupon.”