MAD//Fest has teamed up with Attest to release a new research report on the effects of the brand loyalty crisis, and how to mitigate them.

Timed to coincide with MAD//Fest London (4-6 July, Old Truman Brewery) and in-line with this year’s ‘Riders Of The Storm’ theme, Attest crunched data from 2,000 consumers to provide insight on:

  • Key changes in consumer behaviour and the categories most at risk of being traded down
  • The outlook for next six months and the biggest risks to brand loyalty
  • Actionable solutions for maintaining and growing brand loyalty during tough economic times

DOWNLOAD THE FREE REPORT HERE

Key findings include: 

-  Millennials (88%) are most open to switching brands as a result of inflation and Gen Z are the least likely to trade down (77.7%)

- 71.7% consumers say increasing RRP is the factor most damaging to their brand loyalty and pricing is key to maintaining customers

- Grocery (82.4%) is the category most at risk of being traded down

CLICK HERE TO DOWNLOAD THE FULL REPORT

“Thanks to the rising cost of living, brand promiscuity is at an all-time high, with more than 83% of consumers trying cheaper brands. This has very real implications, not only for brands in the FMCG sector, but also for clothing retailers, tech brands, financial services and telecoms providers,” said Jeremy King, Attest’s CEO.

Meet Attest at MAD//Fest London (Wine Alley, T3) on 4-6 July at The Old Truman Brewery.