News

Low price, good value are driving deeper customer loyalty

August 21, 2017

Nearly all consumers, 92 percent, view price and value as top reasons to be loyal to a retailer and brand. Product quality also factors high, with 72 percent of U.S. adults citing quality as a top reason to be loyal. Coming in third are variety and selection, for 71 percent polled in the International Council of Shopping Centers' survey on customer loyalty.

"Retail is a highly competitive industry, and the well informed consumer has more influence on retailers and brands than ever before," said Tom McGee, president and CEO of ICSC, in a release on the survey.

"A physical retail space is vital for brands and retailers to have a competitive advantage and connect with consumers. Consumers want the best experience and the best value, in turn rewarding brands and retailers with their loyalty."