Consumer Insights Roundup: Consumer Behavior Changes After Banking Technical Issues, Online Audiences Tired of Influencer Marketing…
What: A summary of the most relevant consumer insight research in the US, US Hispanic, and Latin American markets.
Why it matters: If you're trying to keep up with the latest happenings, this is your one-stop shop.
- A study from data analytics firm Consumer Intelligence has found that over 40% consumers say they would be put off applying to a bank that has technical issues. The research showed that technical problems such as security issues have led to consumers being more vigilant, with more than 45% saying that they have changed their behavior.
- After surveying more than 4,000 European respondents about influencer marketing, a report by Bazaarvoice shows that consumers are tired of the repetitive nature of the content and decreasing quality of posts. According to the study, 63% of online audiences feel that influencer content has become “too materialistic” and “misrepresenting real life,” and 49% of consumers believe there's a need for effective regulation to define stricter rules as well as best practices for content.
- According to new data from Splitit, 87% of online shoppers will abandon their carts during the checkout process if it is too long or too complicated. In addition to abandoning their carts, 55% of consumers would never return to that retailer’s site. Cart abandonment rates hover at about 70% overall, and older shoppers are the least patience. 90% of those aged 55 and older would not complete a long or complicated checkout process, and only 7% would exit a lengthy checkout but return to the site later, compared to 12% of millennials.
- Periscope has announced the findings of its research on consumer actions, attitudes, and behavior during Amazon Prime Day 2018. The research, conducted in the US, UK, France, and Germany, found that consumers are spending more, on more items, and online shopping behavior continues to grow in sophistication. The survey of 3,000 consumers found over 80% awareness with the exception of France at just 63%. All countries reported that a mix of online and offline was their dominant way to shop but an average 16% stated they mostly shop online.
- While chatbots and voice assistants are gradually being adopted by consumers, 65% of shoppers in the U.S. and Europe say they are either not very important or not at all important, based on a new survey conducted by Bazaarvoice. In the same vein, 61% of retailers say it is of no or minimal interest to shoppers. The study comprised an online survey of 2,000 adults the U.S., U.K., France and Germany, and 400 brand and retail clients.
- PERQ has released new analysis of consumer call-to-action (CTA) data with key learnings for websites of brick and mortar businesses who sell (or lease) high-consideration, big-ticket items. The research, which looks closely at click-to-conversion behavior as well as the overall online experience, found 77% of car shoppers on dealership websites are actually at the beginning or middle of the process and are interested in tools that help them make a decision rather than immediately completing a purchase.
Janet Grynberg @grynberg_janet
Janet has worked as editor and translator since 2013. After graduating with honors when receiving her Bachelor's Degree in English literature, she began working as a book reviewer for Expansión, the leading business magazine in Mexico. She has also worked as editor of young adult literature for publishing houses like Planeta and Penguin, and she's the author of a book of short stories. She's in the process of getting her MA in English at McGill University. Her interests include arts, good food, and her 8 pets.