The Report Explains Changing Consumer Behavior by Researching Five Popular Domains Among Customers. Its Observations Are Meant to Educate Marketers About the Shift in Market Dynamics and the Need to Adapt to a New Genre of Consumers

Resonate, a proven leader in consumer intelligence and insights released key information through their ‘State of the Consumer’ report. It is suggestive about the need to adopt newer branding strategies to cater to a highly evolving customer. Resonate’s conclusion was based on data from five popular categories among shoppers. The brilliance of this report is that it jots down individual value-sets and motivations and puts it in tandem with consumers’ expectations from a product. Hence, Resonate’s research provides rich information on consumer psychology and how it motivates buying behavior.

“Understanding the ‘why,’ or how a consumer’s values shape their purchasing decisions, offers a clearer predictor of one’s future buying habits. While this report addresses five specific consumer segments, the insights into these groups provide a broader commentary on some of the greatest market forces and consumer dynamics that are rapidly transforming the landscape for today’s brands,” said Bryan Gernert, Chief Executive Officer of Resonate.

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Here is a snapshot of their industry-wise observations:

Automobiles

41.8 million say that they are interested in buying a new car in the next 3-12 months. They demanded progressive components in a car (Bluetooth, Navigation) against traditional features like safety.

Consumer Value Set

Seeking admiration from society for what they do and a desire to preserve traditional values pertaining to history, culture, family, etc.

Switching Banks

Consumers switching banks are two contrasting groups consisting of traditional and technology-driven demands. They want both, excellent locations and technological add-ons. The consumer data set here is dominant with females aged 25-34.

Consumer Value Set:

Enriched lives that are full of challenges, excitement, and newness, and the need to feel a sense of safety in one’s nation and immediate surroundings.

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Online Exposure of Baby Boomers

Of the 50.4 million people in the Resonate Platform, 40 percent spend a maximum of 40 hours a week in online surfing and that LinkedIn is their go-to place on the internet.

Consumer Value Set:

Fulfilling responsibilities and being law-abiding, apart from the need to feel a sense of safety in one’s nation and immediate surroundings, were the top values of this consumer set.

Online Box Subscribers

Of the 33 million online box subscribers, half of them are married women aged 25-34.

Consumer Value Set:

Being in charge and guiding people along with exciting and fulfilling lives are core values of Online Box Subscribers.

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Voice-Activated Shoppers

57.4 million people are willing to shop using voice-activated devices

• 11 percent of American adults have already adopted voice-activated shopping
• 53 percent in this group are women with a quarter of this population between the age-groups 25-34

Consumer Value Set:

• Being important
• Being admired
• Having the chance to display one’s qualities in the most spectacular way

Resonate’s methodology

These results have been generated from Resonate’s cutting-edge and futuristic flagship Customer Intelligence Platform, which is constantly updated. Here are some facts about the same:

• Resonate encapsulates the largest databank of surveys in North America (250,000 and counting upwards).
• The conclusions provide deep insights because they are based on 10,000 customer attributes.
• Resonate holds key information of 185 million adults in the United States of America.

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