More than three in five customers aged 55 and under, are likely to displauy a tndency to pay more for brands they are loyal to (64% among 18-25 yr olds, 60% among 36-40 year olds, and 61% among 41-55 year olds).
While customers claim they are loyal to some brands, most still buy from competitor brands. The share of customers buying comeptitor brands increases with age starting at 71% among 18-25 year olds and reaching 85% among 56-75 year olds.
Frequent purchase behaviour does not necessarily indicate brand loyalty. 65% of 18-25 year old shoppers admit to making frequent purchases from brand they do not feel loyal to. This figure increases to 70% among 56-75 year olds.
Brand loyalty is strongest among young customers. Only 22% of 18 to 25 year olds said they were not loyal to any brand. The figure increased with age with 36% of 56 to 75 year olds saying they are not loyal to any brand.