Do you understand the 2020 consumer? New research from 5W Public Relations takes a deep dive into consumer culture, helping brands tap into their customer’s wants, connect with their target audiences and create a loyal following by identifying the appropriate tools and messaging. Areas of research in the firm’s new report include impulse behavior, spending habits, purchase gratification, social media, marketing, publicity, brand activism, and more.
“As a publicist, it’s important to know what our audience wants so we can craft the appropriate messaging that will resonate and create that brand loyalty that everyone is striving for,” said 5WPR President, Dara A. Busch, in a news release. “These insights allow us to better guide our clients to make smart decisions because we now have a deeper understanding of the purchasing power of each generation.”
5WPR’s inaugural culture report shows a special focus on Millennials, who are estimated to spend 1.4 trillion in 2020. This age group emerged as the most impulsive and the most highly influenced generation, with 82 percent of Millennials purchasing an item the first time they see it if they like it enough.
When it comes to corporate image, the report dives into the pros and cons of brand activism and cause marketing
Results show an overwhelming positive response to companies with a higher brand purpose. The research shows that 83 percent of Millennials find it important for the companies they buy from to align with their values.
“We’re going to see huge growth in cause marketing in 2020,” predicts 5WPR Founder and CEO, Ronn Torossian. “Seventy-one percent of Millennials will pay more for a product if they know some of the proceeds go to charity, meaning brands have the opportunity to create a positive corporate identity and increase sales if done correctly.”
On the digital side, the report looks at social media and the impact that influencers and advertising have on users
Although Facebook reigned supreme as the number one social media platform across all age groups, Instagram emerged as the most effective—94 percent of people influenced by Instagram have clicked, shared or purchased a product seen on their feed. Interestingly enough, while social media is no doubt still driving sales, 68 percent of people still prefer finding new products in store to finding them online, proving that in-store retail is far from dead.
As a leading consumer PR firm, and an award-winning digital agency, 5WPR is committed to being a trailblazer in the industry and providing clients with the most up-to-date insights. The information gathered from the survey will guide strategy, planning and execution of consumer and digital client campaigns.
Data from 5WPR’s Consumer Culture Report was collected from an online survey that ran from November 13 to 18, 2019 by MARU/Matchbox on behalf of 5WPR. The survey was conducted among a nationally represented gen pop sample of 1001.