Data shows that Gen Z and Millennials prioritize spending on quality and sustainability, while Baby Boomers favor local products, shaping targeted pricing strategies for brands.
Premium Pricing Justified: Quality Tops Consumer Priorities
Consumers prioritize quality, health, trust, sustainability, and local production, with nearly half willing to pay more for high-quality products, driving brands to balance value and price.
Poor customer service leads to brands losing customers, while positive experience drives word-of-mouth recommendation
Two in three (66%) of shoppers say they are likely to abandon a brand after receiving poor customer service. 71% of shoppers saying they are likely to recommend the brand after receiving great customer service
Most customers are loyal to some brands, but do not rule out buying from competitors
Brand loyalty and purchase are not so strongly related as more than three in five customers admit to buying from competitor brands and doing so frequently.
Location based targeting and re-marketing ads are most likely to be deemed ‘creepy’
Shoppers are most uncomfortable to receive location based ads from companies they are not aware of (63% among 18-25 year olds). More than half are not fond of ads that follow them across devices (59% among 18-25 year olds).
Offline impulse purchases occur in standard over free-standing or sale aisles
More than a third (38%) of imulse purchases in a physical store occurs in the regular product aisle compared to a free-standing display (17%) or a sale specific aisle (11%).
Price sensitivity and self-rewarding behaviour drive impulse purchases
A third of shoppers admit to impuse buying because the price was lower that expected (34% online , 33% offline) and/or as a treat for themselves (34% online, 37% offline).
Slow page load times and broken links lead to abandoned online shopping journeys
More than half (57%) of online shoppers abandon online shopping journey because the page is too slow to load. Broken links (47%) and poor user experience (45%) round-up top three drivers of cart abandonment.