Consumer Insights Roundup: Young Consumer Experiment More With New Products, 80% of Consumers Consider Themselves Loyal to a Brand After 3 Purchases…
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 recent survey about social life by YouGov shows that 27% of U.S. residents born in Latin America say “I have a wide social circle, and I enjoy it.” Only 16% of the total population chose this same response. A large number of people in both groups (43% of Latin American-born and 41% of the total population) say that socializing is a part of their life, but not the main focus. While almost one-third (31%) of the total population said they “don’t mind socializing occasionally, but try to avoid it,” only 22% of Latin American-born people said the same.
- A recent August 2018 survey from Morning Consult, which polled 2,202 US internet users, found that Gen Zers and millennials are not always ready to commit to just one product. More than half (51%) of 18- to 21-year-olds said they would like to try out different items, "even when I know there's one I like." On the contrary, roughly two-thirds (67%) of Gen Xers and more than three-quarters (75%) of boomers said that when they find a product they like, they buy it over and over again.
- Nielsen’s data on consumer behavior during the summer shows that the week ended Aug. 18, 2018, alone generated nearly US $49 million in sparkling water sales, up 22% from the same time last year. Americans also favor a particular radio format each summer. This year, the Classic Hits format saw the largest boost in audience during the warm weather months compared with the start of the year.
- Jebbit asked 400 U.S. adults to answer how much they trusted 100 of the biggest consumer-facing brands in the U.S. with personal data in exchange for “more relevant offers, goods and services” on a scale of one to 10. A score of one represented a consumer not trusting the brand, and a score of 10 represented complete trust. Each of the 400 people surveyed rated 25 brands. Out of all of those brands, Facebook scored last, with a mean score of less than 3.1.
- According to a new consumer survey from Yotpo on brand loyalty, over 90% of respondents (out of 2,000 consumers) considered themselves equally or more brand-loyal than they were a year ago. Survey respondents defined loyalty in the context of repeat purchase behavior. Nearly 80% of these consumers said that it took at least three purchases for them to consider themselves loyal. For 37%, it took at least five purchases. “I love the product(s)” was the reason given by 55% of survey respondents in response to the question, “What is the primary reason you are loyal to a brand?” The only other noteworthy reason was “great sales/deals,” cited by 25%.
- According to Nielsen's recent insights, U.S. adults currently spend over 11 hours a day with media. Overall media consumption reaches 95% of millennials and 99% of those 38 and older. However, the older demographic spends three times longer engaging with national news in a year than Millennials.