10+ Brand Loyalty Statistics: A Must-Know in 2024

Brand loyalty is critical for a company’s growth and success, as it influences revenue and customer retention. 

But just how deeply do consumers commit to their favorite brands? 

With that in mind, we’ll cover brand loyalty statistics that show how brand loyalty affects spending, retention, and recommendations.

Brand Loyalty Statistics: The Key Data

• Companies with strong brand loyalty grow revenue 2.5 times faster than their peers in their industry.
• Customers who are loyal spend 67% more on products and services than new customers.
• The majority of customers (54.7%) are loyal to 1 to 5 brands.
• Loyal customers buy 90% more often than new customers.
• 57% of customers will abandon a brand if it does not respond to negative reviews.
• 77% of consumers have been loyal to at least one brand for 10 years or more.
• 89% of customers say they will stick with a brand if they share similar values.
• 81% of consumers desire to develop a relationship with a brand.
• After one positive experience, 77% of customers will recommend a brand to another.

If you are interested in learning more about the loyalty program, then check out our customer loyalty statistics, which offer greater insight on the impact of customer behavior and the loyalty program.

Millennial Brand Loyalty Statistics: The Key Point

• Millennials are the most brand-loyal, with 50.5% strongly or quite loyal to their favorite brands.
• The majority of Millennials (75%) have higher brand loyalty and are more likely to do business with brands to which they are loyal.
• 81% of millennials say that joining a loyalty program increased their spending with that brand.
• 62% of Millennials prefer brands that interact with customers directly on social media.
• 60% of millennials have had long-term relationships with specific brands.
• 73% of millennial shoppers enrolled in a loyalty program to receive holiday season benefits and rewards.

Sources: (Medium, Market Splash, Eventige, Inc, Inmoment, Retail Customer Experience.)

Gen Z Brand Loyalty Statistics: The Key Point

• 46 percent of Gen Z say they have a strong connection or loyalty to a brand.
• Nearly 60% of US Gen Z online shoppers said they lost brand loyalty since the crisis in 2021.
• 77% of Gen Z adults say they try new brands.
• 52% of Gen Z are more likely to take part in a loyalty program this year than they were last year.

Sources: (National Retail Federation, Statista, Morning Consult, Sailthru.)

Social Media Brand Loyalty Statistics

• 53% of Americans who follow brands on social media are more likely to buy from them.
• 90% of people buy from brands they follow on social media
• 62% of millennials say they are more likely to become loyal customers if a brand engages them on social networks.

Sources: (My Total Retail, Emarsys, Yotpo, Signal, Pwc, Fortunly, Pr Newswire, Merkle, Inmoment, Convince And Convert.)