February 20, 2018

Latest:

The Klondyke Group announce appointment of catering director -

Monday, February 19, 2018

Brackenburn creates renewable biofuel to burn in the home -

Sunday, February 18, 2018

Garden centre donates materials to Care Farm students -

Saturday, February 17, 2018

Best outdoor lifestyle retailer in the UK gong awarded to Gordale Garden Centre -

Friday, February 16, 2018

Stewarts Garden Centre customers thanked for £20,711 fundraising appeal total -

Thursday, February 15, 2018

Plant expert to visit Perrywood Garden Centre for talks and orchid clinics -

Thursday, February 15, 2018

Two added to Highfield Garden World planteria team -

Thursday, February 15, 2018

Discount retailer boosts garden centre stock with Peterborough acquisition -

Wednesday, February 14, 2018

Residents express their shock and sadness at news Reigate Garden Centre is to close -

Wednesday, February 14, 2018

Grange Fencing introduces new consumer-facing brochure -

Wednesday, February 14, 2018

Wyevale Garden Centres celebrates £1.7m fundraising success for Marie Curie -

Tuesday, February 13, 2018

New owner for Peterborough’s The Barn garden centre -

Tuesday, February 13, 2018

Reigate Garden Centre will close by October so hundreds of new homes can be built -

Tuesday, February 13, 2018

Deans garden centres’ fundraising helps keep air ambulance flying high -

Monday, February 12, 2018

Sycamore Park Garden Centre boss gives update on future -

Monday, February 12, 2018

Beech’s Fine Chocolates re-launches Easter egg range -

Wednesday, February 7, 2018

Spring Puppy focus from JAMES WELLBELOVED® -

Wednesday, February 7, 2018

94% of retail businesses missing out on tax exempt gifts that boost staff productivity and morale -

Wednesday, February 7, 2018

Wildlife World celebrates 20 years in business -

Wednesday, February 7, 2018

Be ‘Lawn Ready’ for spring -

Wednesday, February 7, 2018

Onbuy.com: 71% of consumers more likely to purchase from a brand they recognise

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  • 71% of consumers said it was very or somewhat important that they recognise a brand before they make a purchase
  • 82% of investors believe that name recognition is important in guiding them in their investment decisions.
  • Only 18% of consumers said they would look upon a brand name change positively.
  • Yet 31% of buyers felt that more brands could do with renovating their image

The UK’s beloved package holiday company, Thomson, is changing its name to TUI, the multinational travel and tourism group that owns the brand. But what does this mean for the loyal consumers who have been with the brand for the 52 years since its creation?
Onbuy.com has considered the importance of branding, and consumer loyalty when a company has a name and brand overhaul. To do this, a survey of 1,063 consumers was carried out,
alongside individual research into customer loyalty.

What’s in a name? A lot, apparently

The research by Onbuy.com has revealed that 71% of consumers said it was very or somewhat important that they recognise a brand before they make a purchase. This goes to show that
familiarity equals value. And it’s not just for buyers either. According to Reuters, 82% of investors believe that brand strength and name recognition are becoming more important in guiding
them in their investment decisions.

Consumers care about a brand’s name. Making it even more important to get it right first time for businesses. For example, back in 2001, the UK’s Post Office Group changed its name to Consignia, much to the horror of the British press and public, who protested the change, forcing a return to the original moniker.

A great brand name has the potential to become synonymous with the product or the service. But what if you needed to change your name? Sometimes a change in a brand name is necessary
for legal reasons, or perhaps the brand seeks to go global in different languages. The survey conducted by OnBuy.com has revealed that this could be the equivalent of pressing a
reset button on your business. For example, one quarter (26%) of survey respondents stated that they were less likely to buy from a brand that has recently changed their name. Only 18%
of consumers said they would look upon a brand name change positively. The main reason was because the consumer was less likely to trust the brand, with 34% of participants selecting this
option. Indeed, recognising a brand name was selected by 52% of respondents as the most important factor leading to a purchase, followed by the packaging itself.

However, the study by OnBuy also revealed that brands shouldn’t shy away from change altogether. 31% of buyers felt that more brands could do with renovating their image, with
McDonalds and Marks and Spencer the most commonly named. Nick Longman, managing director for TUI in the UK, has stated that “It’s very difficult to change people’s perceptions of a brand that’s 50 years old”, using this as a reason to revamp the image of  travel company Thomson, adding: “TUI is perceived as a newer, younger brand” which can be easily re-branded to fit a new generation of holidaymakers. However, studies have revealed that it is more worthwhile to cherish the clientele you have, than to chase after shiny new millennial consumers. Indeed, it is reported to be 500% more expensive to convert new ones than to keep current consumers, with 82% of small business owners stating that loyal customers were the main way they grow their business.
This is because a loyal customer is more likely to spend more for a product or service, 33% more, to be exact.

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