How Politics and Hashtags Changed the Face of Retail
Political polarization, voter tribalism and more fervent social movements like #grabyourwallet, #MeToo and #TimesUp have changed the face of brand engagement and consumer loyalty in all retail categories, according to new values and insights identified in the Brand Keys 23rd Annual Customer Loyalty Engagement Index®.
This year’s survey has identified new consumer values that have merged to create unparalleled shifts in the retail category — values that “define” how consumers view retail categories, compare brands within those categories, and will ultimately buy, buy again and remain loyal to one retail brand vs. its competitors. The important news for retailers is that the “how” has changed dramatically in 90 percent of the retail sectors tracked, which means consumers aren’t looking at retail categories in the same way they did a year ago. That means retailers will have to change how they brand and market to today’s consumers if they want to be successful.