Mainly because of poor customer service, more and more consumers are switching brands than they were just 10 years ago.  Analysts call it the switching economy.

Once loyal customers are now changing their buying habits - and not looking back.

According to a spokesperson for the research and consulting firm Accenture, consumers are less hesitant to switch brands, and that in turn accounts for a lot of spending.

"Since 2010, brand switching has accounted for $1.6 trillion in spending in the U.S. alone.  Over 46 percent of consumers surveyed say they're more likely to switch brands today than they were 10 years ago."

Those companies most affected by 'the switching economy - cell phone providers, banks and big box stores.

(ABC Radio News)

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