Omnisend CEO: Price, Convenience Top Consumer Loyalty Factors
Omnisend's CEO, Rytis Lauris, shares insights on consumer loyalty trends, highlighting the growing influence of price, convenience, and value over brand names. As shoppers adapt their habits, small and medium-sized businesses (SMBs) must innovate to compete.
Lauris, cofounder and CEO of the marketing automation platform Omnisend, notes that customer loyalty is a multifaceted concept, influenced by factors such as price, quality, customer service, convenience, and consumer trends. SMBs can differentiate themselves by offering unique combinations of these factors.
Price, in particular, has emerged as a significant factor in consumer decisions. A recent survey revealed that 66% of shoppers have noticed price increases at Amazon, followed by 30% at Temu and 27% at Walmart. Consequently, nearly two-thirds of shoppers have switched from Chinese marketplaces due to price hikes, turning towards large retailers like Amazon and Walmart. Since tariffs were enacted, the average U.S. adult now pays $47 more per month, with 14.7% spending at least $100 more each month.
To foster customer loyalty, businesses can consider hosting social events, making consumers feel more connected to the brand and increasing their likelihood of purchasing. SMBs can also look to various resources for support in developing loyalty programs, such as consulting firms, specific loyalty program platforms, technologies, online platforms, and government funding programs.
In conclusion, Omnisend's CEO Rytis Lauris emphasizes the importance of understanding and adapting to changing consumer behaviors, particularly the growing emphasis on price, convenience, and value. SMBs can compete by offering unique value propositions and utilizing available resources to develop effective loyalty programs, ultimately strengthening customer relationships and enhancing long-term competitiveness.
Read also:
- U.S. CBP's Operation Plaza Spike Boosts Fentanyl Seizures Along Arizona-Mexico Border
- Regensburg Court Sentences Pizza Delivery Owner for Illegal Employment, Tax Evasion
- Tesla's EV Market Share Plummets in Europe, US Competition Intensifies
- Catastrophe at a U.S. Steel facility in Pennsylvania results in the loss of two lives. crucial details unveiled
