The digital landscape is undergoing significant changes, from the demise of third-party cookies to the rise of identity resolution and AI. As a brand, it’s critical to stay up-to-date with the latest consumer trends and preferences to drive successful marketing strategies. Wunderkind’s 2024 Consumer Insights Report for Digital Commerce, based on a survey of 1,503 consumers from the United States and the United Kingdom, provides valuable insights into the evolving digital commerce space.
1. Online shopping frequency continues to rise, with younger consumers leading the charge. Nearly a third of consumers now shop online on a weekly basis, and 38% do so monthly. This trend is expected to persist, with more than a quarter of consumers planning to increase their online shopping frequency in the next twelve months. Younger consumers, particularly those aged 25 to 34, are the most frequent online shoppers, with 41% shopping online weekly.
2. While online marketplaces command the highest levels of trust among consumers (45%), there is a significant opportunity for brands to inspire direct purchases from their websites. Consumers find price competitiveness (57%) and product quality (53%) to be the most influential factors when choosing to buy directly from a brand. However, younger consumers also place a strong emphasis on brand reputation, reviews, and values, highlighting the importance of building a strong brand identity and presence.
3. Email emerges as the clear winner for receiving personalized offers and exclusive messages from brands, with 49% of consumers preferring this channel. This preference for email extends across age groups and is even more pronounced among older consumers. Brands that leverage email for delivering personalized content and offers stand to gain a significant advantage in engaging and converting their target audience.
4. Personalization is a powerful tool for driving purchases, with 83% of consumers stating they are either very or somewhat likely to purchase from a brand’s message that highlights the products they’ve recently browsed. This preference for personalization is even higher among middle-aged and higher-income consumers. By leveraging identity resolution and performance marketing strategies, brands can deliver hyper-personalized messages at scale, resulting in increased engagement and revenue.
5. Consumer preferences for receiving offers vary across age groups, with older consumers favoring financial incentives and younger consumers being more receptive to non-monetary offers that provide convenience and align with their values. For example, while discount codes and price drops are popular across all age groups, younger consumers show a strong interest in back-in-stock notifications, abandoned cart reminders, and limited availability warnings. Understanding these nuances and tailoring offers accordingly can help brands effectively engage different segments of their target audience.
Want to get the full picture of what consumers think in 2024? Grab this report for valuable insights into the evolving preferences and behaviors of consumers in the digital landscape. We also have a report specifically for travel and hospitality marketers. By staying attuned to these trends and leveraging the power of first-party data, identity resolution, and performance marketing, brands can create personalized, engaging experiences that drive revenue and foster long-lasting customer relationships. As the e-commerce landscape continues to evolve, it is crucial for brands to adapt their strategies and embrace innovative solutions to stay ahead of the curve.
To access the full report and unlock a wealth of additional insights, industry-specific findings, and actionable recommendations, download your copy of the 2024 Consumer Insights Report for Digital Commerce today. Discover how Wunderkind, the leading AI-driven performance marketing solution, can help your brand harness the power of first-party data, identity resolution, and personalization to drive unprecedented growth and success in the digital age.