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According to a survey conducted by digital workflow company ServiceNow, 82% of Irish people are now choosing to search for cheaper options rather than sticking to the same brands they have been loyal to. This decline in brand loyalty can be attributed to the need for more affordable options, as noted by almost half of the respondents. Additionally, 84% of participants reported that they are spending more due to recent price increases.
The survey also revealed that a significant number of Irish consumers are taking advantage of the cost-of-living crisis to explore new brands and services. Approximately 23% of respondents stated that increased competition has led them to try different brands.
In their quest to reduce costs, Irish customers are interested in personalized discounts. About 90% of participants consider this aspect important, while 81% expressed their desire for samples and trials from brands before making a purchase.
As consumer costs continue to rise, the survey revealed that the most crucial aspect of the employee experience is the salary. 61% of respondents reported that their salary is the most important factor in their working lives.
Additionally, Irish consumers demonstrate a high level of security consciousness compared to others in the region. For 78% of respondents, data security is deemed the most essential factor when dealing with a company. This concern for security surpasses considerations such as response times, service quality, and contact options offered by a brand.
The survey also found that individuals aged 55 and above are the most security-conscious about their personal data, followed by those between the ages of 35 and 54.
Despite the increasing presence of artificial intelligence tools, Irish consumers still prefer direct connection with a customer service representative online. Just 10% of respondents stated a preference for chatbots, while 37% favored email communication.
Mark Cockerill, the Vice President of Legal at ServiceNow, emphasized the importance for brands to move beyond competing solely on price, as this is not a sustainable business strategy. Instead, he suggests focusing on factors beyond price, such as good security practices and the ability to efficiently resolve customer queries.
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