In this episode of Shopper Marketing Minute, I discuss how COVID19 inadvertently is causing the largest product trial program of all time and its impact on brand loyalty. Read the full transcript below:
There is no doubt panic buying in the early stages of COVID, caused serious product availability issues driving shoppers to buy and try new or competitive products for the first time. As the market calms, what should worry CPGs is 58% of shoppers intend to continue buying a brand they tried for the first time during the pandemic putting brand loyalty in flux.
So – what should leading national CPGs do about it?
Well – I recommend a very simple approach – SPEND!
Spend along the entire path-to-purchase — pre-shop, in-store and post-shop.
Spend on a mix of shopper tactics including shopper influencer programs, in-store media, price promotions, contests and loyalty programs.
And most importantly – spend to re-establish your dominance in the shopper’s consideration set and drive conversion.
Net, net — if you spend loyal customers will come back.
If you have an opinion on this topic, please leave a comment.
Until next time…thanks for watching.[/vc_column_text][/vc_column][/vc_row]
