Skip navigation
Skip navigation
You are using an outdated browser. Please upgrade your browser.

- Research shows where loyalty lies-

16 July 2004 – The stereotypical gender and age traits still hold true when it comes to money, a recent customer intelligence survey by SAS UK, the leader in customer intelligence, revealed.

Whilst women are more sensitive to the price of food, men are more concerned about the price of loans and credit cards. Abandoning retailer loyalty, 80% of women shop for food on price alone, compared with 64% of men who remain loyal to their supplier, but still try to look for good value, according to the survey.

The research revealed that the younger generation are more financially savvy and fickle than the powerful ‘grey pound’ with nearly half (42%) of 18-29 year olds changing their bank in the last 10 years. In contrast, over 50’s are much more loyal with 57% not changing banks in the last ten years and 21% organising their loans and credit cards through the same organisation every time, compared to just 10% of other age groups. It is the 30-50 year olds who shop around - 44%select loans on price alone.

“This research demonstrates how, in many instances, consumers respond to, and fulfil, traditional stereotypical roles and mentality. Within these broad segments there are sub-segments that have different needs and have different behaviour – each target sub-segment requires a subtly different offer and approach that only analytical technology can provide insight to,” said Jason Goodwin, head of customer intelligence, SAS UK.

“Accurately targeting customers has never been more important as the younger generation shop around to find the exact products and services that meet their needs. Banks must recognise, for example, that whilst their older customers may be more relaxed about their relationship with financial service providers, their younger customers are considerably more demanding,” said Goodwin.

Overall, the factor that is most likely to encourage customer loyalty is competitive pricing. Sixty-two percent of respondents value the cheapest option compared with 55% who stated that customer service was the most important factor in engendering loyalty.


The research also revealed:

 In general, people from the south are the most loyal group with 18% buying from the same organisation for their financial services, telecommunications, and retail needs each time, compared to 15% people from Scotland.
 Women stated that they like the personal touch; nearly 40% of the fairer sex would like their bank to be more understanding of their needs.
 Only 19% of respondents believed their banks worked hard to keep their business. This figure was lowest in London (13%) and highest in the rest of south England and Scotland (23%)

SAS provides a range of integrated customer intelligence applications that allow organisations to easily understand their customers, apply that customer knowledge appropriately and measure the value of sales and marketing activities. By sharing a common platform for data management and business analytics, SAS delivers the only comprehensive, end-to-end solution that enables marketers to better analyse, segment, profile and target customers, resulting in superior marketing campaigns and customer profitability. SAS enables marketing organisations to optimise their most valuable marketing resource – their skilled professionals – and to clearly demonstrate measurable value from their marketing investments. SAS offers industry-specific marketing applications for banking, insurance, retail and telecommunications.


About SAS
SAS is the market leader in providing a new generation of business intelligence software and services that create true enterprise intelligence. SAS solutions are used at more than 40,000 sites – including 96 of the top 100 companies on the FORTUNE Global 500® – to develop more profitable relationships with customers and suppliers; to enable better, more accurate and informed decisions; and to drive organisations forward. SAS is the only vendor that completely integrates leading data warehousing, analytics and traditional BI applications to create intelligence from massive amounts of data. For nearly three decades, SAS has been giving customers around the world The Power to Know®.

For further information, please contact the team at the SAS press office on:
Tel: +44 (0) 870 990 5436 or e-mail
saspressoffice@golinharris.com

For more information on SAS, please visit http://www.sas.com/uk

SAS and all other SAS Institute Inc. product or service names are registered trademarks or trademarks of SAS Institute Inc. in the USA and other countries. ® indicates USA registration. Other brand and product names are trademarks of their respective companies. Copyright © 2004 SAS Institute Inc. Cary, NC, USA. All rights reserved.

This press release was distributed by ResponseSource Press Release Wire on behalf of Golin in the following categories: Consumer Technology, Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.