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Brand Loyalty Among US Auto Consumers Drops to Six-Year Low, According to IHS Markit
Brand loyalty among U.S. consumers for new vehicles dropped to a six-year low in June, according to new analysis from IHS Markit (NYSE: INFO). Analysis of new vehicle registration data through June indicates that the overall brand loyalty rate of 51 percent in the U.S. market is the lowest since August 2015. This decline in loyalty is inevitably due, at least in part, to the major declines in dealer inventory stemming from the global microchip shortage.
Year over year, IHS Markit new vehicle registration data indicates that brand loyalty in the U.S. fell by 1.7 percentage points (PP) to 51 percent in June (vs. June 2020). This follows a 2.5 PP drop year-over-year in May and a 2.8 PP decline in April. The aggregated three-month brand loyalty in 2021 was 51.6 percent, down from 54 percent a year ago and 54.1 percent two years ago.
While consumers are changing brands, body style loyalty remains strong, increasing slightly -- national overall body style loyalty rose 1.1 percentage points in June (year-over-year) to 55.5 percent.
The Caesars Sportsbook App is Now Live in Arizona
Access to legal sports betting is fast approaching for Arizona residents and today, Caesars Entertainment, Inc. announced its brand-new Caesars Sportsbook app is officially available to Arizona customers for download and deposit.
As an Authorized Gaming Operator of Major League Baseball and in partnership with the Arizona Diamondbacks, Caesars is excited to offer Arizona sports fans the chance to officially download the Caesars Sportsbook app, register, and deposit funds while taking advantage of all of the incredible offers in preparation for sports betting's launch in the state on September 9.
PNC Bank Announces Minimum Pay Rate Increase
PNC Bank announced that it will bring its minimum pay rate from $15 to $18 per hour, beginning Nov. 22, 2021. This represents a 20% increase from the bank's current $15 minimum rate and is more than double the national minimum wage of $7.25.
The minimum pay rate increase will impact both PNC employees in legacy markets and BBVA USA employees converting to PNC in October. The company's decision to proactively boost its pay rate is intended to enhance employees' financial wellness; help PNC attract and retain the best talent; and ultimately strengthen the bank's competitive position in the marketplace.
Parento Rebrands Heading Into Open Enrollment
Parento, an insurance-based solution for paid parental leave, unveiled a refreshed brand and rollout.
"Our refreshed brand, anchored by two penguins and their chick, best aligns with the necessary work Parento is doing to make paid parental leave accessible and attainable for employers and employees," said Director of Marketing, Tiarra Hamlett. "Parento is a first-of-its-kind holistic approach to paid parental leave and parenthood."
A generational shift towards a healthier work-life balance, amplified by the pandemic, has catapulted paid parental leave into the national discourse. Up to 86% of millennials are less likely to quit if paid parental leave is offered, making it the third most desired employee policy. Gender-equal paid leave promotes children's development, improves maternal health, and supports household economic security.
Pilot Company Brings Back "Trucker Salute"
In honor of professional truck drivers and National Truck Driver Appreciation Week, September 12 - 18, Pilot Company will be celebrating these heroes of the road for the entire month of September.
To show gratitude to the men and women that keep North America moving, Pilot Company is encouraging everyone to join in bringing back the "Trucker Salute" and will be rewarding professional drivers all month with free drinks, bonus loyalty points and more perks.
"Professional drivers have carried us through many tough times, especially over this past year and a half, and we all owe them our gratitude and thanks," said Shameek Konar, Pilot Company CEO. "Our annual Driver Appreciation month in September is a special time to recognize and celebrate professional drivers everywhere, including our own Pilot drivers. The Pilot team thanks all of you and gives you a 'Trucker Salute' for working incredibly hard to haul all of the goods needed across the nation."
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