Consumers’ loyalty can be won with a value-oriented pricing strategy, according to Colloquy. Walmart, which is already the most frequently shopped retailer in all regions, is making inroads with consumers in the Northeast, Northwest, and Southwest as it ousts former loyalty leaders.
Curiously, Walmart is not the loyalty leader in any region in the mass merchant category; instead, it is more likely to lead in the grocery and personal care categories.
Colloquy attributes the shift in loyalty patterns to changes in what consumers say defines a loyal shopper — they place less weight on how long a consumer has shopped a particular retailer, and more on how familiar a consumer is with the store, how well they know its locations, and if they shop its sales. It points to a more price conscious consumer, the result of the recession. [Retail/Service Sector, Consumer Spending & Attitudes]
Source: “What Price Loyalty: The 2010 Colloquy Retail Loyalty Index,” Colloquy, Josh Milner, 4445 Lake Forest Dr., #200, Cincinnati, OH 45242; 513-248-5918; josh.milner@colloquy.com; www.colloquy.com.
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