COVID-19 Is Testing Brand Loyalty’s Influence In Consumer Decisions
Life during the pandemic has upended a number of things—including consumers’ attitudes toward brands. Influence Central, an influencer marketing platform, has surveyed 700 consumers on their attitudes and behaviors toward brands and found several shifts during this unique time.
The survey found that only 12 percent of consumers describe themselves as “very willing” to pay for a preferred brand-name label versus a generic one. Fifty-two percent are somewhat willing and 37 percent prefer generic brands. Influence Central’s study found that almost 90 percent of consumers say that they purchase generic brands some of the time.
The availability of supplies during the outbreak is a significant factor in consumers’ decisions to shift to generic brands. The survey found that 75 percent of consumers are unable to find their regular products in store and 45 percent cannot find them online. The survey also revealed that 60 percent of consumers are choosing generic products due to the cost savings, a significant factor Influence Central notes, due to ongoing layoffs and the profound sense of economic uncertainty.