The Acquisition and the Consumer Mindset report from our friends at the DMA is hot of the press. There are some really interesting findings from startups to subscription models and supermarkets to switchers. And Amazon, let’s not forget Amazon; the ‘Titan brand’ itself.
Here are some of the highlights:
- Consumers look to a range of sources to help them to trust in marketing messages they receive (in particular friends & family and reviews), but when responding directly to marketing messages of interest, consumers are most likely to search online themselves for more information (49%)
- 61% of customers had switched at least one brand in the last 12 months; among the categories researched, consumers are most likely to switch energy supplier (26%) and shampoo brand (26%)
- Brands are successfully attracting people to switch, rather than bad customer experiences pushing them away; for example, 68% of supermarket switchers changed brand because they were attracted by their new provider
- Over a third (37%) of supermarket switchers in the sample switched to a “discounter” brand, such as Aldi or Lidl
- Some consumers are serial switchers – likely to switch brand again in the next 12 months – and are most motivated to switch by ‘Price’, ‘Value’ and ‘Promotions’
- 57% of consumers have bought from start-up companies, with ‘Genuine-ness’ seen as something people particularly look for – 31% select a brand being genuine as something that would encourage them to try as a start-up
- 37% of respondents listen to podcasts – in particular, they tend to be male, 16-24 years old with an annual income above 25k
- Over half (57%) of those listening at least once a week trust podcast advertising
- The majority of consumers (88%) with children under 18 use Amazon at least monthly – with the more people buy from Amazon, the more they are willing to buy in new areas or products that aren’t yet available from the titan brand
- Current Amazon behaviour suggests users both discover brands direct through the brand (57%), but also compare these results to other brands (65%)
- Consumer interest in buying via subscription is driven mainly by ‘Convenience’ (52%) and ‘Cost savings’ (50%), but also by the want to ‘Try new brands’ (32%) – It is still early days for subscriptions taking over more areas of purchasing
To download the full report, click here.