Marigold Releases Its 2024 U.S. Consumer Trends Index

The 2024 U.S. Consumer Trends Index is an annual research study designed to provide brands with consumer data and insights critical to developing effective relationship marketing strategies. For the 2024 U.S. report, Marigold, in conjunction with Econsultancy, surveyed a total of 1,012 U.S. consumers.

The report is divided into five main sections – Marketing Channels; Messaging Frustrations and Engagement; Brand Loyalty; Privacy, Zero-Party Data and the Value Exchange; and Navigating Social Media Pessimism – and contains something for every consumer marketer.

Key themes & statistics

• The demand for loyalty programs continues to grow.

50% of consumers are more likely to engage in a loyalty program this year; only 9% are less likely to engage.

• The push for greater data privacy is making zero-party data even more important.

59% find ads based on indirect tracking tools, like third-party cookies, to be a “creepy” marketing tactic.

• The value exchange is alive and well.

When it comes to sharing their data in exchange for something, a majority of consumers find value in loyalty points/rewards (91%), discounts/coupons (90%), early/exclusive access to offers (88%), a chance to win something (84%), unlocking content (69%), and brand community (67%).

• Consumer pessimism surrounding social media is hard to ignore.

58% don’t trust the advertising they see on social media; 56% are engaging with social media less for the sake of their mental health.

More important than price

“What’s notable is that, even among the more economically pessimistic generations, there are a slew of factors consumers still deem to be more important than price when making purchases. Overall, more than half of consumers cite product or service quality (65%), convenience (58%) and excellent customer service (53%) as more important than price, with a considerable number (45%) placing a brand’s reputation over price as well. These figures are even higher for the economically pessimistic Baby Boomers – in fact, more so than any other generation, they place product/service quality (77%), convenience (66%), excellent customer service (56%) and brand reputation (54%) above price.

Wrap up/summary/advice

“From consumer demands for personalization to the critical importance of loyalty strategy to the creation of truly compelling offers and promotions, the need for advanced marketing technology is imperative for modern brands.

“But with tech consolidation efforts growing, this marketing technology also needs robust multi-channel functionalities (email, SMS, push notifications, mobile wallets, loyalty programs, zero-party data acquisition)…. Of course, advanced marketing solutions are only part of the story.”

For a look at the Marigold/Econsultancy report on global consumer outlook, click here.