SUMMARY: Brands are going to have to work very hard to earn the trust of millennials. The percentage of Millennials who believe business is having a positive impact on society dropped from 76% in 2017 to 55% in 2019 and 26% of Millennials have no trust in business leaders.
IN SUMMARY: In today’s marketplace, the customer experience
is paramount. It’s inseparable from the value of the goods and services a company provides. It’s also a critical indicator of whether consumers will do business with a brand again and advocate on their behalf.
SUMMARY: Grouping consumers solely by demographics while looking at their buying behavior and purchase decision-making can give a skewed view of their daily habits and long-term lifestyle choices. Instead, Euromonitor International’s annual Consumer Types Series looks beyond standard demographics and profiles distinct personality-driven consumer types at both the global and country-level.
KEY TAKEAWAY: Private label’s online dollar share more than doubled over the past year, according to Nielsen. CPG private label sales now account for 3% of online dollar sales, up from 1.3% two years ago. Walmart is leading the space with a 48% share of CPG online private label sales, up from 27% in 2017.
IN SUMMARY: Millennials can no longer be treated as a single generation. The millennial age group spans 20 years, with the oldest members turning 39 years old in 2019 while its youngest members are still not even 20. This generation is no longer a demographic group united by a youthful nature, meaning the gap between the oldest and youngest millennials — in attitudes and behavior — is wider than ever.
KEY IDEA: Great brand experiences are about using tech, or digital innovations in general, to remove friction and exceed customer expectations but brands are failing to have a unique conversation with consumers.
SUMMARY: Tapatalk surveyed over 1,000 Americans who have visited a forum site and/or used Facebook, Twitter or Reddit. The findings demonstrated that Americans are increasingly turning to forums – rather than the feeds or pages of Facebook, Twitter and Reddit, to find the answers they seek regarding specific questions and niche topics as well as to discuss their hobbies with other enthusiasts. However, in examining the research closely it’s pretty safe to say that it’s flawed.
- Consumers multi-task, opting to use devices—simultaneously researching something they heard or saw, checking email, online shopping, or simply staying connected with others.
- Access and convenience are two key factors that determine how people consume media at different times.
- Adults spend more time on media from 9 p. m. -10 p.m. than any other hour throughout the day.
- Television is still the most dominant media.