A new allegiance: Driving brand loyalty with Australia’s next-generation consumers
Millennials (18–34 years old) are one of the most impactful groups of consumers globally. This generation is estimated to grow fourfold, to account for 50% of Australia’s population by 2030. In customer service and brand experience, these consumers have high expectations and low tolerance. They are more likely to switch to a competitor brand if their preferred brand provided poor customer service. They are prepared to switch brands should they not be provided with the experience they want, when they want it. With challenger brands attacking market share in the most profitable niches, enterprise is being tested constantly by nimble competitors.