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BizReport : Advertising archives : November 25, 2016

Consumers 'seriously consider' just two brands during purchase process

Consumers embark on their purchase journey aware of many brands, but only seriously consider up to two, according to recent research from Quantcast.

by Helen Leggatt

In their new report, 'The Road Less Travelled', Quantcast reveals that, while consumer begin their purchase journey aware of up to nine brands, they are only "considering" 3-5 of those brands and "seriously considering" up to two.

The rationale consumers use to narrow down brands to their first choice are whether they have used that brand before (56%) or if a brand is well known or has a good reputation (49%). In fact, the longitudinal study followed 2,257 consumers in the US, UK, Australia, France, Germany and Italy, using digital diaries during a 4-week period before a purchase, found that just four in ten consumers go on to buy from one of the brands they shortlist.

Of the 81% of consumers who begin the purchase journey with a narrow shortlist, those who go on to purchase a brand on that shortlist are 2.7X more likely to see advertising in the final phase of their decision-making process.

These finding highlights the need for advertisers to garner consumer engagement and awareness early on in the sales cycle to ensure they make the shortlist.

However, Quantcast's findings also reveal that more than one in five decision-making processes involve a "change of heart", whereby a consumer purchases a brand that was not originally on their shortlist. In these cases, the strongest influences on this behavior are better value (45%) or special offers (41%).

Tags: advertising, brand awareness, consumer marketing, research

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