Half Of UK Consumers Switch Supermarkets Due To Prices: Study
Close to half (49%) of UK consumers have been influenced to switch supermarkets in the last 12 months due to more attractive prices being available elsewhere, a new study has found.
The study, by customer engagement specialist ELLO Media, was based on data on customer attitudes and expectations of brand loyalty programmes.
Considering the UK's biggest supermarkets, a fifth of shoppers identified Tesco as the retailer they feel the most loyal towards, followed by Asda (14%) and Aldi (11%), which hold the second and third positions respectively, the study found.
The analysis has also revealed that more than a third of respondents said they would be loyal to a particular retailer if they got true value in return for their loyalty.
Michael Kalli, managing director of ELLO Media, said, “The findings of the report reflect that consumers will be loyal when they feel they are receiving real value from supermarket retailers for doing so."
When asked about the main devices used to reward shoppers for staying loyal, most respondents (53%) cited supermarket vouchers, followed by restaurant discounts (24%) and cinema discount or tickets (19%).
“Rapid developments in data capture have presented supermarket retailers with an incredible opportunity to learn more about their customers than ever before," Kalli added.
"With it costing five times as much to acquire a new customer as it does to retain an existing one, it is in supermarket retail brands’ best interests to start improving their loyalty programmes in earnest."
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Alessandra Arosio. Click subscribe to sign up to ESM: European Supermarket Magazine.