According to a study by Accenture, customer loyalty has fallen by 29% since 2010. What does that mean? Should we worry? Loyalty is a glue which holds society and the economy together. But are we seeing a disintegration of these core values?
For me, loyalty is partly about identification and routine, but curiosity also plays a role. Identification and routine have a positive effect on loyalty, while curiosity acts in the opposite direction.
The success of the Internet is strongly based on the fact that it offers a platform for exploring one’s curiosity. Adventurous people have been so creative with their new routines to the extent that everyone else is easily accessible now. In this way, it is a process of creative destruction, which includes more and more aspects of everyday life. If we look at it in this way, decreasing loyalty is not a sign of the decline in values, but rather an indication of a change driven by the forces that were faced by Christopher Columbus.
Loyalty is still strong; we can see this by observing how quickly new monopolies such as Google, Amazon or eBay have grown. What is new about this though is how quickly they disappear. Does anyone still remember Netscape?