I thought it was universal.
loy*alty: quality, state, or instance of being loyal; faithfulness or faithful adherence to a person, government, cause, duty, etc. (Webster’s New World Dictionary)
Turns out the definition is sufficiently vague to allow each person her own insight into how she wants to play it out. For me, loyalty means you put a person before another person or before a business matter. I have learned the hard way, that is not universally true.
And so in today’s Lempert Report, it’s interesting to learn how consumer loyalty shifts with the economic winds.
“…price is so meaningful today…we expect subsequent surveys to reflect shifts in consumer loyalties towards stores that capture ‘the next big thing’ and keep in sync with the evolving needs of their shopper bases.”
So what’s next? What’s the next big thing to capitalize on? To gain market share?
In my humble opinion, there are some universal truths:
1. Good work stands the test of time.
2. Integrity counts for a lot.
3. Patience builds a more solid foundation.
4. Not shifting loyalties with the direction of the wind matters more than you think.
5. Money does not solve much.
If you trade friendship for money, you’ll eventually end up empty.