The stats are very revealing but I am a contrarin, I say 'give the consumers a reason to believe!' and they will come asking for more. Competing on price is a sign of weakness not a position of strength.Of the 18 categories analyzed, snack crackers, shredded cheese and potato chips are most vulnerable to brand switching, with 78%, 77% and 74% of consumers saying they'd switch brands.
Even some products that seem more easily branded are at risk: 74% of consumers would switch lipsticks, for example, and 73% would switch cereals.
Packaged coffee, 58%, pain relievers, 54%, laundry detergent, 53% and carbonated beverages, 52%, are at lesser risk. They were the only categories to come in with an I'd-gladly-dump-my-brand-for-another score below 60%.
Tuesday, June 26, 2007
No brand loyalty?
Bad News For Brands: Supermarket Shoppers Don't Care an interesting post in this morning's MediaPost. Not sure I agree with the contents of the article but I felt I needed to air my thoughts...