Although consumer behavior had been evolving prior to the pandemic, the crisis prompted a surge in new shopper behaviors. Whether they were unable to find their favorite brands on the shelf or were looking for less expensive options due to changing economic situations, consumers began shifting brands at unprecedented rates.
According to McKinsey, 36% of consumers tried a new brand in 2020, and a quarter of consumers purchased private-label brands. However, as store shelves were re-stocked and the economy began to stabilize, researchers found consumers were pleased with their new discoveries—among those who have tried different brands, 73% intend to continue to incorporate them into their routine.
While scarcity and price were driving forces during the pandemic, we wanted to understand if this behavior would continue going forward. We polled 200 consumers across the U.S. to learn how they discovered new brands and which product categories retained the most loyalty.
Here are four things you need to know about brand loyalty and product discovery in CPG.
Brand loyal? It depends…
Do you consider yourself brand loyal?
Where loyalty lies
When asked to rank the categories they’re most loyal to, consumers chose:
In-store presence matters
Where do consumers learn about new brands the most? In-store reigns supreme.
Price: The driving factor when trying new brands
Above all else, price is the top driving factor for consumers when it comes to trying new brands.