Why being loyal to your customer needs to come before brand loyalty

CONSUMERS are fast gaining the upper hand when it comes to retail. Easy access to global retailers and cross-border commerce have given consumers the luxury to choose from different price points and options. Industries, from transport to groceries, are being disrupted to offer consumers more convenience and on-demand service. Even social media platforms, once a preferred tool to build customer loyalty, are now a trusted, word-of-mouth tool for consumers to evaluate brands.

These trends indicate that there is a shift in power from retailer to consumer. At the same time, with the total nominal sales in Asia exceeding that of the United States, it is a crucial year for brands rushing into new markets to capture their share of the pie. The result is intense competition for brand loyalty with the risk of lower conversion results.

In order to succeed, brands need to focus first on establishing a loyal and consistent experience for consumers before they can even expect customer loyalty. Companies should consider the following if they want to remain competitive in an increasingly crowded environment.