The new trend in town is to bestow superlatives on brand loyalty. People conveniently forget the fact that brand loyalty cuts both ways too. Banes of loyalty are expediently overlooked, on the behest of big corporates, to promote a subculture of unconditional loyalty. For a change, let us discuss the banes of brand loyalty.
Brand is the outcome of carefully constructed and smartly positioned marketing exercises over a period. The persuasive nature of this exercise is capable of pulling as many aspiring consumers as possible into this vortex. They seek an identity different from their peers by committing to merchandise from a particular brand. Firstly, a loyal consumer is more likely to spend more than an average one for a product with similar features. Brands seek a premium from consumers by leveraging their superior visibility. At times, loyal consumers don’t even bother to know about identical products from competitor’s stable. As a result, he/she spends more than what needs to.
Secondly, loyal consumers are known to insulate themselves from the pleasures of ‘other brands.’ The obstinacy stemming out from loyalty certainly will rob them off potential benefits offered by a competitor. An old adage says that variety is the spice of life and this folk deny of that spice in the curry of life. Lately, instances of tribalism have been reported in the western hemisphere. Loyal consumers of a brand flocking together under an umbrella may seriously harm the social fabric and lead to decadent lifestyles ruling the roost. Last but not the least, hubris over your consumption pattern is sure to drill a deep hole in your wallet.