According to the latest IPSOS study – Socialogue – Spain along with Italy and India are the countries with the lowest brand loyalty in the world.
Two out of three Spanish people (66%) prefer to try new products rather than stay with the brands they already know. Thus Spain became one of the countries with the lowest index on brand loyalty, well above the world average, at 52% and surpassing countries such as Great Britain (60%), Germany (59%), France and the U.S., both with 55%.
The study also reveals that 70% of Spanish women are more likely to try out new products and brands compared with 61% of men.
By age groups, 74% of the people under 35 are the most likely to try new brands, followed by ages 35 and 49 with a 65%. 51% of the people over 50 showed greater fidelity to the life long products and brands.
Regarding social status, blunt upper class citizens with 73% compared to 66% for the low class and with 64% for the middle class.
“Consumption in Spain has suffered a major transformation in the last years. Consumers increasingly demand new, relevant and different products, and this trend toward innovation outweighs the brand itself” said Antonio Hernando, Marketing Director IPSOS Spain and he added: “Companies are facing two major challenges: first, to continue launching products attractive to consumers, in order to maintain their market value and, on the other hand, to not forget the traditional buyers, loyal to the brand for years.”
IPSOS is a global independent market research company ranking third worldwide among research firms.