We love what we love, and according to a new survey of digital consumers, we’re not about to switch it up just because a new brand shows up on the block. It isn’t just Americans who feel the affection for their favorite brands, but 60% of people around the world would rather buy new products from familiar companies than switch, says Nielsen.
Nielsen conducted the global study (you can download the entire report here) and found that brand loyalty reigns supreme among the more than 29,000 respondents it polled across 58 countries.
“Innovating products within established brands that consumers trust can be a powerful strategy,” said Rob Wengel, senior vice president, Nielsen Innovation Analytics. “Marketers and retailers can deliver successful new products for existing brands by ensuring they uncover unmet consumer needs, communicate with clarity, deliver distinct product innovations, and execute an optimal marketing strategy.”
That’s a tall order for consumer product companies — after all once they’ve sated shoppers’ needs with say, a new phone, they’ve always gotta be thinking about the next thing they can introduce to keep the love flowing.
It won’t always be an immediate response of “gotta go get it!” when brands introduce something new, however, as 60% of consumers say they’ll wait for an item to build a reputation before purchasing it.
The countries that were most willing to try a new brand include Middle/East and North America, with half of global respondents overall saying something new could be tempting.