Research published today (Monday 14 November) states that more than half (actually 56 per cent) of British shoppers have switched away from a brand they were once loyal to due to inflation and the rising cost of living. Regrettably for Joules, now formally in Administration and being looked after by kind souls from Interpath, 91 per cent of them shopped there ...
Of the 2,000 consumers surveyed, almost two thirds (64 per cent) reported having changed their attitude towards loyalty in the last year. Around one in five (19 per cent) agree they can “no longer afford to be loyal”. Your local pub, which although cosy and well-known to you and serves up toad-in-the-hole for £12.95, can no longer hold its own against Aldi's tofu-in-a-hole for £1.75
Consumers cite rising prices as their number one reason for leaving favourite brands. A similar proportion (55 per cent) say a difficult shopping experience is a reason for dropping brands, and 47 per cent cite selling poor quality products. At Joules a 'difficult shopping experience' includes banging on a bolted door or bumping into the Interpath team as they make their way through reams of data. The Aim-listed company has also asked the London Stock Exchange to suspend trading in its shares, which closed at 9¼p on Friday. They were trading at more than 300p in June last year (Thursday would have been a good time to sell).
Personalised deals are one incentive that may persuade customers to stay loyal, suggests the research. Seven in 10 (71 per cent) of those surveyed say personalised discounts, incentives and rewards delivered in a bespoke way are important to them. We should all take note. NTI, for example, offer a number of exclusives and offers to tempt clients and students to come across to the light side. We are itemising these in a number of 'Only At NTI' messages hitting your screens in the next four weeks. Not to spoil the surprise, they include:
* Only NTI have a comprehensive and all-service app: all CII, CPI and JIEB exam-training webcasts, materials, tests and an interactive study planner
* Only NTI set practice JIEB mock exams at the actual Kaplan exam centres
* Only NTI run face-to-face lectures for CPI (ten of them, in fact)
* Only NTI have 12 face-to-face lectures for JIEB Corporate Insolvency; basically one, vital, lecture room experience per month all the way through your course
* Only NTI have news bulletins and CPD TAP updates, granting us a unique capability and capacity to prepare JIEB students for their exam's holistic marks
* Only NTI have a fully-comprehensive compendium of all the words, phrases and acronyms used in insolvency and restructuring. Available free on the NTI app
* Only NTI have CPD TAP, an up-to-the-minute update and information service available always on a phone, tablet or laptop
* Only NTI have an IPS licence and a partnership with IPS, to enable us to deliver the most succinct, relevant and constantly up-to-date document packs and checklists
* Only NTI have two assessment-standard mock exams for the ICAEW's CII exam, to support a totally flexible student-focused study product
* Only NTI have three FCA accredited qualifications for the personal insolvency solutions sector
* Only NTI have the capacity to deliver CPD training, as bespoke as you like, on a discrete and private part of our app
* Only NTI have the width and breadth to offer your business a 'one stop shop' of peerless products and services, saving you time and money and allowing you to get on with business
Only NTI. Innovation as Standard.