Half of consumers would buy from an unfamiliar brand if offered the right dealby
So much for brand loyalty; new research reveals that over half of consumers would buy from an unfamiliar brand if offered the right deal at the right time.
As Black Friday kicks off, and retailers across the world release their biggest offers of the year and compete for share of voice in a crowded marketplace, 41 per cent of respondents to the survey commissioned by affiliate network Linkshare said they have purchased something online they would never previously thought of buying, because of a voucher or offer.
The research conducted among 1,000 consumers adds clout to the idea that a well-timed and well-placed voucher or coupon can sway buying behaviour significantly. Brands must therefore ensure they have a presence across all channels and a variety of sites to ensure customers’ loyalty, as there are so many opportunities to lose valuable customers.
At the same time, the study found that women are more savvy than men when shopping online, with 58 per cent of women surveyed saying they looked for vouchers and coupons compared to 53 per cent of men.
This impulsive buying behaviour has been exploited successfully by sites like Groupon and Quidco, with daily emails promoting brands looking to expand their sales. From its creation in 2005, Quidco now works with 2,800 brands.
The total value of vouchers and offers distributed to customers each year is estimated at more than £500million, and City experts believe as many as 200 voucher websites operate in the UK.
Anthony Quinn, director of advertiser services at LinkShare, said: “Soaring access to web-enabled devices, combined with the proliferation of online vouchers and coupons have revolutionised the way consumers shop online. As our research shows, it has opened up the market for challenger brands. In turn, now even big brands cannot rest on their laurels, as consumers get more savvy they will be increasingly swayed by value.”
Claudia Slutzkin, online marketing manager at fashion brand Lipsy, said changes in the way consumers engage with companies had forced a change in communication methods with consumers over the last few years. “Now that our customers are browsing and shopping from their smartphones and tablets as well as their PCs we need to ensure we are represented across each channel to ensure we stay front-of-mind. On top of this, consumers want value for money in these difficult economic times, which is why the affiliate programme we run with LinkShare has been so effective. Consumers get value for money, and we are able to ensure our brand appears in all the channels our customers shop from,” Slutzkin said.