Inte Q’s proprietary Customer Love Score™ uses emotional, social, and brand health data to accurately measure the emotional connection customers have with a brand and provide a new approach to refining marketing strategies and strengthening customer loyalty. In their recently released Emotional Loyalty Report, Inte Q uncovers insights into what makes top retailers successful and what factors contribute to consumers’ ‘love’ for these brands.

A study from City Lab shows that in 2018 retail store closures reached new heights and that online retail is growing faster than offline retail. As of August 2018, the square footage closure of retail shops was higher than the peak of the Great Recession (2007-2009).

Although the overall retail market is declining, Americans still prefer to shop in person for other goods such as kitchen and bath, appliances and jewelry. In General, Department Stores have had a more difficult time, whereas “general merchandise” stores such as Target and Walmart have been able to maintain their sales. 64% of a typical Americans’ shopping budget is spent in-store and the remaining is spent online.

51% of all Americans…

                  67% of Millennials…

                                    56% of Gen Xers…

                                                            …Prefer to shop online

What Does the Customer Love Score™ Tell Us about the Retail Industry?

Leveraging artificial intelligence and machine learning, the Customer Love Score™ provides more than 25 comparison metrics for a brand and competitors – in this case, Walmart, Target, and Amazon.

Key Insights:

  • When considering what drives a customer’s love for these retail brands, reliability and excitement are the most important factors.
  • Amazon has the most emotionally attached customers, and their customers have the highest overall opinion of the brand
  • Target has the least behaviorally loyal customers
  • Walmart has the most committed and behaviorally loyal customers, but their customers also have a very negative opinion of them and would rarely recommend
  • Target has the lowest ratings on loyalty out of any of the brands, and keep a low intent to repurchase at 38.5%.

The Amazon Effect

The Amazon Effect has dramatically changed the 
way consumers shop since
the company debuted in 
1994- this term describes
 the effect that the entire
digital marketplace has had on traditional forms of commerce, like brick-and-mortar retail. Namely, the Amazon Effect has introduced consumers to an almost completely frictionless shopping process with near-immediate results.

The Amazon effect
has also spilled over into
 more traditional spaces. Customers now want the same experience, whether they’re in front of their computers or inside a shopping mall.

 

Revolutionizing Marketing Optimization with the Customer Love Score™

“Using the score as a centerpiece to optimize our loyalty programs and drive personalization strategies, has been a game-changer for our clients.”

Chris Duncan, President, Inte Q

Using the Customer Love Score™ to influence campaign targeting has demonstrated a 24 percent incremental transaction lift and a 15% increase in ROI over traditional targeting methods.

 To learn more, download the full report.