Nearly half (49%) of consumers noted they’d be willing to download a brand’s app just to receive loyalty promotions or exclusive deals.
Consumers say their lives are improving financially while still searching for ways to save, according to a new survey.
The 14th edition of the EY Future Consumer Index found that 77% of U.S. consumers think their lives are the same or better now than three to four months ago. However, shoppers are still turning to loyalty programs and discounts to cut spending costs.
EY found that U.S. consumers have foregone brand affiliation and loyalty in favor of savings. Nearly half (49%) of consumers noted they’d be willing to download a brand’s app just to receive loyalty promotions or exclusive deals. Seventy percent would join a company’s loyalty program for free shipping perks, and 45% used a discount code/voucher while online shopping in the last six months.
In an increasingly omnichannel environment, 59% of consumers said they make the trip in-store for the purpose of seeing, touching and trying items before making a purchase, while 57% noted a desire to bypass shipping. More than half (56%) of U.S. consumers noted interacting with humans to be “extremely important” during product returns and refunds, and an additional 55% found it “extremely important” when looking to discuss questions or concerns about a product they already bought.
“Sales have gone from specific moments in time, like Black Friday and back to school, to consistent opportunities for deals — and strong loyalty programs elevate that culture of consistent savings even further,” said Kathy Gramling, EY Americas consumer industry leader. “At the same time, loyalty programs provide brands and retailers with invaluable consumer data to better inform products, programs and personalized experiences. Winning brands are those that use the data found in loyalty programs to not only attract new customers, but also retain and reward existing ones.”
EY surveyed 23,000 consumers across 30 countries, including 1,500 in the U.S.