The New Brand Loyalty: Why Consumers Want More Than Just A Product

Himanshu Kumar Ojha Sep 02, 2024

The way people used to buy products or interact with brands hasn't changed. What has changed is the outlook towards products and brands that have been offered by companies , say experts

A marketing outlook is a strategic forecast that provides an overview of the expected trends, challenges, and opportunities within the marketing landscape for a specific period, usually the upcoming year or quarter.

Saikrishna Yallapu, Director Corporate Marketing, Sutherland Global said, there are a lot of mergers and acquisitions, happening, at the same time 75 per cent of the buyer journeys happen in anonymity. "So unlike, four or five years back, they used to approach the sales, but now they are reluctant to fill a form on the website or do an email because once they do, they will be bombarded with the deals or the mails or the calls," he said.

On what are the biggest shifts in the marketing domain Amit Bajaj, Head Marketing & Communications & Equity & Inclusion, India, Guardian Life said, The core of the consumer hasn't changed. The way people used to buy products or interact with brands hasn't changed.

He added, that what has changed is the outlook towards products and brands that have been offered by companies, they are more interested in knowing the essence of the brand.

"There is a major shift happening with respect to the consumer itself, like at least on ecommerce, Gen Z is now taking purchasing decisions. They value social responsibility in a brand, the storytelling of a brand. So those aspects become a lot more relevant than they were probably for the previous generations of consumers," said Nivesh Jain, Head Digital Marketing and Growth, Handelnine Global on the recent trends in ecommerce.

Arjun Batra, Head of Marketing, Globus Spirits said, “When it comes to spirit space, it's about understanding where the consumer is and who your consumer is, it's very much a lifestyle category, and to that extent, it's very similar to other consumer categories, but also the difference really being that it's so much more experiential.”

The landscape of marketing is continually evolving, shaped by advancements in technology, shifts in consumer behaviour and the emergence of new trends. Today, more than ever, brands must stay agile and responsive to the changing demands of their audiences.