Report: Majority Of Global Consumers Are 'Belief-Driven' Buyers | RetailTechPodcast

Report: Majority Of Global Consumers Are 'Belief-Driven' Buyers

Two in three global consumers are now "Belief-driven" buyers, per the report - up from 50% last year. Consumers are now just as likely to express purchase intent based on a brand's values as they are based on the features of a product. The report advises brands to remind consumers of their stand at point-of-sale because it's important for brands to reinforce their values and their position on important issues when consumers are about to open their wallets. The world expects brands to do more than just recycle: More than half believe it is easier for people to get brands to address social problems than to get governments to take action, and 46% say brands have better ideas for solving a country's problems than governments. Some 53% say brands can do more to solve social ills than government. A brand's stand on a specific issue was six points more powerful in getting people to advocate for a brand than hearing about product features. The report surveyed consumers ages 18-55+ in the U.S., UK, France, and Germany. Read more