Finweek English Edition - - COVER -

egories that lend them­selves bet­ter to some of th­ese price and qual­ity trade-offs be­cause in many ways it is not as easy to do the price/ qual­ity trade-off with clothes as it is with elec­tronic goods. De­spite this, at face value, more peo­ple are pre­pared to make a pur­chase sight un­seen. This per­haps is an in­ter­na­tional trend where South Africans have lagged be­hind. 3. BRAND LOY­ALTY: Brand loy­alty across all mar­kets has in­creased. There is no doubt that brands rep­re­sent two things to two dif­fer­ent kinds of peo­ple. One is that it is ei­ther very as­pi­ra­tional, and as a con­se­quence of buy­ing a brand it tells some­one else some­thing about that con­sumer that they don’t have to ad­ver­tise. Se­condly, brands are also an im­plicit guar­an­tee of qual­ity. And when con­sumers buy prod­ucts that they can’t see or in­ter­act with, they re­quire the re­as­sur­ance of es­tab­lished, rep­utable brands, so there is the like­li­hood of them choos­ing some­thing with a brand name that also makes the buy­ing de­ci­sion eas­ier.

While price and qual­ity are the fac­tors that most in­flu­ence the buy­ing de­ci­sion, ris­ing brand loy­alty across all mar­kets un­der­lines the ap­peal of brands that have in­vested in build­ing trust and de­liv­er­ing an en­gag­ing cus­tomer ex­pe­ri­ence.

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