Mar 31, 2023
Authenticity Drives Revenue And Loyalty
Authenticity is now a key driver for revenue and loyalty among Canadian shoppers as the trend for more mindful consumption continues, says research from Asendia, a provider of eCommerce and mail delivery solutions. Sixty-nine per cent of Canadian shoppers would spend more money with retailers they perceive to be authentic, with 56 per cent saying they would only shop exclusively with authentic retail brands. The key values defining authenticity for Canadian shoppers are being straightforward on delivering promises, having a clear brand voice, transparency within supply chains, standing up for sustainability, and acting upon brand values. Almost 80 per cent of shoppers also say authenticity makes them more loyal to brands, with a further 63 per cent saying they would switch to a competitor if they felt a retailer wasn’t authentic. Asendia’s report says, in the context of economic global headwinds and the rising cost-of-living putting extra pressure on household budgets and discretionary spend, authenticity also helps retailers fend off rising price-sensitivity among shoppers. While 70 per cent of shoppers in Canada plan to cut back on spending in 2023, 41 per cent say a brand’s authenticity would make them less sensitive to inflationary price increases, rising to 66 per cent of Millennials.
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