We always hear: “Brand loyalty is very low with Gen Z” and I always think why do we blame a generation who is living with abundance of choices and fast pace of change?
Previous generations often developed strong brand loyalties because they had limited options available to them. Each brand had its USPs, and consumers could choose to stick with what they knew and trusted. This sense of loyalty was reinforced by the consistency and reliability of the products and services offered.
However, in today's highly competitive and rapidly evolving market, Gen Z is faced with a staggering array of choices across various industries. The explosion of brands, products, and services, coupled with easy access to information and reviews, has empowered them to be sharper and more selective in their purchasing decisions. They are known for being digitally savvy, socially conscious, and open to trying new things. Hence, their brand loyalties may be more fluid, and transient compared to previous generations.
Instead of ONLY blaming Gen Z, brands should do their homework and continuously be agile, responsive, and in tune with the ever-changing preferences and values to win the loyalty of today's dynamic and discerning consumer base.
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