5 Statistic Brands must know about 2020 consumers!
When planning anything, the more information you have the more powerful your plan becomes. These 5 statistics are designed to strengthen your brand’s plan; they give a window of insight into the 2020 consumer and where their time and energy will be spent. What could you achieve when you consider the following trends when building your brand experience plan for 2020 and beyond…?
1. Down time.
The average Brit spends 9 hours and 40 minutes a day looking at a screen, this is down 2 minutes from the previous year; but it’s still the vast majority of any consumer waking hours. Whittle that down even further and you’ll discover that the average Brit spends 3 hours and 15 minutes a day on their phones. Now, if you’ve seen people out and about on their phones, you’ll have noticed that most of the time they are staring at their screens with uninterrupted laser like focus. This undivided attention could be directed at your brand.
TikTok is coming in fast and hot, with over 500 million monthly active users worldwide. Most consumers are reserved with who they like and follow on other social media platforms such as Instagram; but this isn’t the case on TikTok where consumers value content that entertains them, following whoever created it. The platforms most followed account isn’t Selena Gomez or a Kardashian, but a girl called Loren Gray with 37.7 million followers. She made it big on the platform’s predecessor, Musical.ly, proving that the platform’s users place value on substance, creativity and entertainment.
You’d have to live under a rock to not have noticed the sudden boom in fast food brands offering vegan options. From Subway’s Meatless Meatball Sub to the infamous Greg’s Vegan Sausage Roll, the world of food is changing to keep up with consumer demands. The US alone saw a 600% increase in the number of people following a vegan diet between 2014 and 2017. Brands should be thinking Vegan when they think about products of the future, but don’t make the mistake of thinking that the Vegan movement is exclusive to food. If it’s not achievable now, at least move with the knowledge that this movement is showing no signs of slowing. Brits spent £1.3 billion on Vegan and Vegetarian food in 2018 alone.
4. Longevity of Brand relationships.
What are the winning ingredients needed to foster consumer loyalty into a lasting relationship with a brand? In a 2018 study by inmoment, 80% of consumers said they “grew to love” a brand over time “from the cumulative effect of great products, service, buying experiences, positive reviews and recommendations from others.” Brilliant brand experiences are what converted these consumers into loyal supporters. This same study also showed that “77% of consumers, including 60% of millennials, have had relationships with specific brands for more than 10 years,” showing that not only does the recipe work but it leads to consumer relationship that last longer than 32% of all same sex marriages in the UK.
We touched on the topic of personalisation in our last article but allow us to back those claims up with some hard facts. In 2019, a Forbes article showed data collected by Edelman had found that 80% of consumers, are more likely to purchase from a company that offers personalised experiences.
Keeping up to date with consumer trends is something we pride ourselves on, it not only helps us to create brilliant brand experiences that sell more for our clients, but also keeps us to understand how we should evolve our services to keep them at the cutting edge of consumer experience to deliver the biggest bang for your buck. We do the hard work so you don’t have to.