Survey: Discounts help consumers discover, stay loyal to brands
Offering discounts to consumers often pays dividends in terms of loyalty, according to a new survey.
SheerID’s latest 2024 Consumer Loyalty Report found that 71% of respondents were more loyal to a brand that offers them an exclusive deal, and 73% felt more emotionally connected to brands that give them an exclusive offer. More than half of consumers polled said that an exclusive offer would motivate them to try a new brand, and 45% said they would even switch their loyalty from one brand to another if the brand had a community-based exclusive offer for them.
SheerID found that a wide majority (80%) of members of groups that are typically offered discounts such as students, teachers and military, identify more strongly with their community than they do with their age group, political affiliation or where they live. Seventy five percent of military and first responders said they felt honored by receiving an exclusive offer from a brand, while 75% of healthcare workers, 69% of teachers and 67% of students said they felt grateful to brands that give them that recognition. More than two-thirds of teachers (76%), students (73%) healthcare workers (72%), military (71%) and first responders (67%) said they feel more emotionally connected to brands that give them an exclusive offer.
More than 70% of those surveyed said they would be likely to join a brand’s loyalty program in order to redeem an exclusive offer. That includes 90% of first responders and 88% of teachers, as well as very high numbers for military (86%), healthcare workers (83%) and students (73%).
“In an economy that fuels price-shopping, exclusive offers are a great way to attract new customers, noted SheerID. “And, because exclusive offers forge an emotional connection by making customers feel seen and appreciated, it helps build and sustain loyalty that endures regardless of economic pressures.”
[READ MORE: Here’s what consumers want from stores]
For its report, SheerID surveyed more than 3,200 consumers in the United States and the United Kingdom.
