Survey into the factors fuelling favourable brand perception
A new survey shows that that retail success is strongly linked to brand perception. Euclid’s survey of 1,500 US consumers explores drivers of brand perception, consumer trust and the corresponding benefits to retailers, showing some relatively clear divisions between older and younger shoppers (e.g., baby boomers vs. millennials).
Younger shoppers were more favourably inclined toward brands that supported their values and politics. According to the findings, roughly half of millennials (52 percent) and Gen Xers (48 percent) wanted retailers to align with their values. Only 35 percent of baby boomers said that was important.
The immediate payoff of favourable brand perception is a greater willingness to share personal data. – 52 percent said that in exchange for coupons or other compelling promotional discounts, they would be receptive to a retailer knowing their purchase history.
Interesting to note, particularly in the current climate of brick and mortar retail store closures, is the survey’s findings on how brand perception impacts e-commerce. Asked how store closures might impact their loyalty and shopping habits, many respondents said they would simply shop at a competing retailer in their area. However, younger shoppers were more likely to remain loyal and shift their buying online if a local store closed.