The Swiss identify most strongly with Migros
Published: Thursday, Jan 25th 2024, 12:40
Updated At: Friday, Jan 26th 2024, 00:59
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Migros is the company with which people in Switzerland can identify most strongly. According to a study, no other company in Switzerland understands how to build a relationship with its customers better than the retail group.
In the "Identity Index Switzerland 2024" published on Thursday by consulting firm Fehr Advice & Partners, Migros achieved 79.2 out of a possible 100 points. "This is an unprecedented top score," said Fehr Advice CEO Luca Geisseler at the presentation of the results. "The fact that the term 'Migros child' exists already implies a great affiliation," he said.
However, although there are also many "Coop children", the second Swiss retail giant with the orange logo cannot keep up here. Although Coop is in third place - after Lindt - it scores over ten points lower than its rival Migros. This means that the people who took part in the study feel much less attached to Coop than to Migros.
According to Fehr Advice, it is not just about the familiarity of the companies surveyed - Migros and Coop are probably familiar to practically everyone in Switzerland - but about their relationship with customers. Geisseler explains this as follows: "A good relationship between companies and customers means, for example, that they take longer journeys to get to 'their' company, keep coming back and are even less price-sensitive. They practically wear 'rose-colored glasses'."
Insurer Assura weakest
After Migros, Lindt (71.3 points) and Coop (68.7 points), SBB (4th place) and Swisscom (10th place) are also pretty good at putting rose-colored glasses on their customers. But brands such as Nivea, Ovomaltine, Ricola, Rivella and Cailler also made it into the top ten with over 64 points each.
The weakest so-called identity scores, on the other hand, were recorded by health insurer Assura, retailer Spar, bank Vontobel, cab competitor Uber and seed company Syngenta, each with between 32.6 and 38.5 points. Assura is the only health insurance company to score lower in the current ranking than five years ago.
Competitors Helsana, Swica, CSS, Visana and Concordia, on the other hand, were able to improve. The authors attribute this to a possible greater awareness of health due to the coronavirus pandemic, which has had a major impact on people's lives.
CS demise favors other banks
Among the banks - with the exception of a slight decline at Postfinance - all institutions were able to gain in the index. According to Geisseler, this may also have to do with the demise of Credit Suisse: "Identification also has to do with differentiation. You can see that the other banks have benefited somewhat from the fact that a lot of negative things were 'dumped' on CS." In light of the demise of one bank, the others suddenly seemed more trustworthy.
Meanwhile, identification with online banks such as Revolut (from 23.1 to 41.1 points) and Neon (from 22.9 to 50.7 points) has increased particularly strongly over the last five years. "This is all the more impressive as these banks exclusively offer digital contact points for their (potential) customers," the study states.
And it is also clear that these neobanks primarily attract young customers: The 16 to 35 age group identifies much more strongly with both institutions than respondents from the two older age categories.
Fehr Advice & Partners conducted the study online together with the market research institute MindTake Research. According to the information provided, it is representative of the Swiss population. Customers and non-customers of the companies and brands surveyed were interviewed.
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