Brand loyalty is up for grabs among Singaporean consumers.
That was one of the main findings from the “Why We Buy” report published by Criteo, the digital advertising solutions provider. More specifically, the company surveyed 1,000 Singaporeans, and found that 78% of its sample were willing to consider shopping from a new brand across all product categories – a total rising to 95.8% in the grocery space and 93.4% for apparel.
Equally, however, the survey found that most Singaporean consumers usually stay loyal to a brand for one to three years, even though they are open to trying new brands throughout their purchasing journey.
So how can brands ensure they retain loyalty at the higher end of this spectrum, rather than losing a customer to a rival? To answer this question, Alban Villani, Criteo’s regional managing director/SEA-Pacific, told WARC in an interview that marketers must understand the role of various strategic levers: