New research from nVision – the Future Foundation’s online database of commercial and social trends – shows that what we may view as customer loyalty in its traditional sense is actually repeat purchase driven by convenience, habit and risk-aversion. Even as far as pubs are concerned, only 10% of people return to the same watering hole because they feel an affinity to the company/brand itself.
There are of course other emotive factors which make people return to the same venue, such as a liking for the staff and the atmosphere. With these more transient attachments factored in 27% of bank customer return to the same branch for emotional reasons, but this still leaves a staggering 82% who are driven entirely by practical concerns. If you would like to know how to leverage customer loyalty in this sector and a wide range of others, this research and more like it is available via subscription to the nVision service.
For further information on this research or any other aspect of our service please contact Ben Hourahine on 0207 250 3343 or email [email protected].