New research conducted by American Express in the UK suggests that younger generational consumers, including Gen Z and Millennials, prioritize purposeful shopping as the dominant driver of brand loyalty, surpassing price considerations.
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GLONew research conducted by American Express in the UK suggests that younger generational consumers, including Gen Z and Millennials, prioritize purposeful shopping as the dominant driver of brand loyalty, surpassing price considerations. These shoppers prioritize retailers with positive corporate reputations and values that align with their own. They are also more likely to donate their loyalty points or cashback to charitable causes.
On the other hand, the older generation places a higher emphasis on price as a loyalty driver, with 86% of those over 55 considering an attractive price tag as important for their loyalty. Additionally, older shoppers are less tolerant of poor customer service, with a poor in-store experience making them less loyal.
Despite these differences, both younger and older generations are feeling the impact of rising living costs, prompting them to consider using loyalty schemes to save money. On average, both groups are signed up for four loyalty schemes.
The research highlights a distinct ‘loyalty divide’ between different generational attitudes towards brand loyalty and what factors influence their loyalty towards retailers. The study was conducted among 2,000 UK adults, and the data was collected between 9 to 12 May 2023 by Opinium Research.
Read more on the survey
Source: American Express
