Brand loyalty is dead.
Customers will buy whatever is in front of them.
And the lowest price always wins.
These are the kinds of things that many so-called experts say about today’s shoppers. And with product shortages common in many grocery and convenience stores, many customers are settling for whatever’s on the shelf.
But do such statements reflect today’s market? Not necessarily.
For example, there’s at least one brand where loyalty is alive and very well: 5-hour ENERGY®. Unlike many products that approach commodity, 5-hour ENERGY® products maintain a premium price — and a loyal customer base. They buy often and ask for it by name.
5-hour ENERGY brand awareness is so strong, even people who have never purchased an energy shot are familiar with it. And that impacts future buying decisions, according to a recent study from research firm IRI.
According to IRI’s analysis, when consumers decide to try an energy shot for the first time, the overwhelming majority — 81% — reach for a 5-hour ENERGY shot. That’s four times more than all the other energy shot brands combined.
And once they decide to purchase 5-hour ENERGY products, they keep buying. IRI said that 27% of consumers who try 5-hour ENERGY shots repurchase it at least twice in the next year. One out of 10 consumers purchases it at least six more times over the next year.
Eventually, some of those shoppers turn into regular 5-hour ENERGY consumers who make it part of their daily routines.
For those consumers, there’s no substitute for the original energy shot.
Is your store carrying the 5-hour ENERGY flavors most requested by regular consumers? Look here to see if your mix needs a fix.