COVID-19 impacts brand loyalty in the US

New Ideas in MarketingEssential news for marketers, summarised by YouGov
January 20, 2021, 4:27 AM UTC

Omnicom Media Group’s (OMG) study across March to November polled 1,100 US consumers aged 18 to 72.

A downwards trend in brand loyalty was observed as consumers lost jobs and supply chains got disrupted in 2020. Brand loyalty in the US dropped from 65% in March to 49% in November 2020. However, consumers feel more optimistic going forward, as only 42% feel the economy is weak, compared to 64% in March.

50% of consumers plan to make big-ticket purchases this spring or summer that had previously been put off.  Also, 49% changed brands to “take a stand” during the social justice crisis in 2020.  17% stopped supporting a brand based on their response to social issues.

As consumers spent more time at home, 61% reported spending more time streaming videos. Social media usage and online browsing also peaked during the summer.

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