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The Buyer Power: 10 New Consumer Facts

Image: bar code to illustrate consumer

 

“Shop ’til you drop.” “When the going gets tough, the tough go shopping.” “Shopping is the best medicine.” We’ve all heard these consumer-isms. Are you buying it? Use these 10 new facts about consumers (you!) to exemplify the phenomenon that obsesses many of us.  Buyer beware! 

 

Share these facts in YOUR content marketing:

 

RANDOM ACTS OF KINDNESS: A positive customer experience is essential: 60% of global consumers are willing to pay more for a product if the brand delivered a positive customer experience. For consumers in the U.S., that total expands to nearly three-quarters (73%). (Source: Market Watch) Tweet this Newz!

 

WHAT’S LOVE GOT TO DO WITH IT? On average, married Americans spend an average of $102 per day. Those living as domestic partners spend an average of $98 per day and divorced Americans spend considerably less, parting with $74 per day. The survey found that those who have never married spend an average of $67 per day, while those who are widowed spend $62 per day. (Source: Gallup) Tweet this Newz!

 

WHAT, ME WORRY? Millennials – people between the age 13-30 – will account for nearly one-third of total spending by 2020. Even through the economic tumult of the past five years, the spending of Millennials has grown by 3% a year. (Source: McKinsey) Tweet this Newz!

 

TIPPING POINT: Just 24% of restaurant customers said they think tipping should be mandatory. 46% said they don’t think tipping should be mandatory, but that people should leave tips most of the time. 20% said that tipping should just be reserved for exceptional service. And 5% think that service charges should just be included in food prices so that guests never have to tip. (Source: Ask Your Target Audience) Tweet this Newz!

 

TO SHOW ME IS TO BUY FROM ME: Although 67% of companies acknowledge that Six fewer days between Thanksgiving and Christmas this year, could cost retailers $1.5 billion in lost sales., only 11% believe that showrooming poses a threat to their business. (Source: Econsultancy) Tweet this Newz!

 

SMART CARS: Americans are practical when it comes to automobile choices, with only 2% saying they’d opt for a monster truck. Sedans (30%) and trucks/SUVs (28%) win out with most Americans. (Source: BusinessWire) Tweet this Newz!

 

BUY INDICATORS: A recent global study identified 2.5 billion “aspirational consumers” (representing one third of the global consumer class). These consumers are defined by their love of shopping (78%), desire for responsible consumption (92%) and their trust in brands to act in the best interest of society (58%). (Source: BBMG, GlobeScan and SustainAbility) Tweet this Newz!

 

A NATION OF SHOPPERS: Consumer spending accounts for more than two-thirds of demand in the U.S. economy. (Source: Washington Post) Tweet this Newz!

 

GOING WHERE THE MONEY IS: As more consumers abandon print media for digital media, marketers follow: 44% of them now allocate at least half of their marketing budgets to digital media, up from only 31% in 2009. (Source: McKinsey) Tweet this Newz!

 

FEELING THE PINCH: There are six fewer days between Thanksgiving and Christmas this year, the shortest holiday season in more than a decade. The calendar could cost retailers $1.5 billion in lost sales. For retailers, the holiday season is the most critical shopping period of the year, representing between 20 and 40% of annual sales. (Source: Washington Post) Tweet this Newz!

 

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