After years of rising anxiety, Americans are ready for a pause
RESTON, Va., June 18, 2024 /PRNewswire/ — Resonate, a pioneer in AI-driven consumer data and intelligence, today released the results of its summer 2024 reports on consumer and voter trends that show a shift in sentiment as fatigued Americans are ready to trade in years of mounting worry for a summer respite.
For the first time in several years, Resonate recorded an 18% increase in the number of people reporting they have no worries for the next six months, one of several key findings in its latest Consumer Trends Report, drawn from surveys and AI-powered insights across the US adult population. However, the data also shows a population that is still much more price conscious and a lot less loyal to their favorite brands. Notably, marketers should be mindful of the growing number of people (38.8%) that continue to blame corporations for inflation.
While people seem to be adjusting to increased prices with spending and saving habits remaining mostly the same, they are at the same time finding ways to pull back, like seeking cheaper alternatives and switching stores or brands to save money. Other takeaways include:
“Our data confirms what many brands suspected, brand loyalty is down, and cost is king,” said Bryan Gernert, CEO of Resonate. “While we are seeing people adjust to rising prices and price volatility, they are increasingly looking to alternate brands and stores to help offset those increases. As purchases trend down, this kind of real-time data can help marketers understand what kind of incentives matter most to their various customer segments and what they’re most and least likely to buy right now so they can maximize the efficacy of sales and marketing campaigns.”
Access the full report here.
View a presentation of the findings and outlook in the Summer 2024 Resonate Consumer Trends Report here.
About Resonate
Headquartered in Reston, VA, Resonate is the leader in AI-powered data and intelligence, delivering proprietary, privacy-safe consumer and voter data for insights, analysis and activation. The Resonate data set includes more than 15,000 rich, relevant, real-time data points that holistically describe more than 230 million U.S. individuals. Resonate data is delivered directly through top demand side platform (DSP) providers, data append and licensing, the Resonate Ignite platform or through Resonate Managed Media Services. Hundreds of companies and campaigns use Resonate to drive more effective marketing strategy and execution fueled by a more comprehensive understanding of their audience that extends beyond traditional demographics, psychographics and behavioral data to uncover why people choose, buy, or support certain brands, products, candidates or causes.
For more information, please visit www.resonate.com.
SOURCE Resonate
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