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Poll shows consumers now placing value above brand loyalty

Consumers are ditching their normal brands as they seek for better deals in the current economic climate, according to a poll of 3,000 consumers by Kyp Systems.

The poll found that 39% of shoppers are more likely to stop buying a brand that they had previously been loyal to if they can get a bargain somewhere else.

Consumers will sacrifice high levels of customer service, green credentials and tradition for a lower price.

"The advice is simple - if you don't take steps to engage then you will lose business to a smarter, cheaper rival - even if that rival cannot offer the same standards," said Nicholas Miller, CEO of Kyp Systems.

"There is also a very clear message for new businesses in these results - if you catch a consumer's interest and keep it - then you have a real opportunity to win their custom. This is a once in a generation opportunity for ambitious young marketers."

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Post Date: April 12th, 2009