Singapore – The pandemic, which caused a drastic decline in retail sales, has created a new brand loyalty shift among Singaporean consumers causing for them to switch brands this year, new research from customer experience company Qualtrics show.
About 56% of the respondents have opted out for cheaper brands during the pandemic. Similarly, 57% of the respondents said that they are more likely to buy items on promotion, while half (51%) have bought different brands due to availability.
“While we know consumers will always value cost, quality, and convenience, findings from the Qualtrics study highlight the major extent to which people are actively seeking out alternatives. In fact, a third of respondents said they have tried at least one different brand since the pandemic began,” said Lisa Khatri, research and brand experience lead for Qualtrics in APJ.
The research also showed renewed consumer priorities among Singaporeans in terms of where to spend their money.
There has been a significant increase in purchases relating to takeaways and home delivery systems (50%), fresh food (42%), and packaged groceries (37%) as well as utility bills and service expenditure (47%), and cleaning products (35%). On the other hand, the majority of the consumers said that they’re spending less on luxury brands and products (60%), entertainment and travel (60%), eating out at restaurants (55%), and alcohol (48%).