Fast on the heels of its recently published global report, relationship marketing pioneer Marigold has filtered the results from that groundbreaking survey now with a dedicated focus on U.S. consumers. The 2024 United States Consumer Trends Index Report uncovers several notable differences brands must consider.

 

Overall, much of this year’s consumer data suggests a positive turn from previous years, particularly when viewed through the lens of developing customer loyalty. In fact, U.S. consumers show a greater tendency towards brand loyalty than their global counterparts – a positive signal for growing economic confidence.

 

For instance, the number of U.S. consumers willing to pay more to shop with the brands they’re loyal to increased by more than 8% to 78%. This figure is notably higher than the 63% reported among global consumers.

 

Moreover, half of U.S. consumers are more likely to engage in a loyalty program this year than last, 25% higher than global consumers. Another 84% of U.S. consumers say they will likely engage with a personalized offer tailored to their interests, compared to 78% globally.

 

But U.S. consumers also hold brands to a higher standard, demanding more in advance before their loyalty is given. For instance, 91% of consumers in the U.S. say brands need to make efforts to treat them like an individual to become a favorite or preferred brand, 7% higher than global consumers who say the same.

 

Also, 80% or more of U.S. consumers cite the following as either important or critically important services brands must offer to maintain their loyalty: customer service/support, data privacy policies, product/service quality, options and availability. Globally, these numbers are lower across the board.

 

Other interesting U.S.-centric takeaways from the report include:

 

  • U.S. consumer optimism is growing. Half (50%) of consumers cite they are optimistic about the economic outlook – a lift from 42% last year. This optimism is largely being driven by Millennials, for whom six out of 10 (65%) say they’re optimistic.
  • Like the Global data, email drives the highest purchase frequency among U.S. consumers. Both social media ads and posts are trailing closely behind.
  • Brand purpose resonates better with younger consumers, with 77% of Gen Z and 81% of Millennials citing a greater likelihood to engage with messages about brand purpose-related activities, compared to 62% of Gen X and 53% of Baby Boomers.
  • On a related note, 67% of Gen Z and 73% of Millennials find brand purpose to be important or critically important to maintaining brand loyalty. This figure falls to 55% for Gen X and 46% for Baby Boomers.

 

“Establishing customer loyalty is a goal brands worldwide must pursue, but the path to doing so naturally differs between regions,” said Trent Lanning, Senior Researcher at Marigold. “While U.S. consumers demonstrate the highest levels of loyalty, they demand the most from brands in return. The 2024 United States Consumer Trends Index highlights this and other important realities. It gives brands the specific insights needed to deliver on these expectations and build hard-earned, long-term loyalty with their U.S. customers.”

 

To access the data and insights needed to address U.S. consumer preferences and expectations, download the Marigold 2024 United States Consumer Trends Index free today.

 

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Source: U.S. Consumers Show Higher Brand Loyalty Than Global Average But Demand More In Return