5WPR Reveals 2020 Consumer Culture Report
Agency discloses insights into the complexities of the modern consumer's motivations, influences and purchasing habits for the year ahead
NEW YORK, Jan. 7, 2020 /PRNewswire/ -- 5W Public Relations, one of the 15 largest independently-owned PR firms in the U.S., has released their first annual report which looks at consumer culture and the biggest influences behind today's buying behavior. Insights will help 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 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," says 5WPR President, Dara A. Busch. "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."
The research 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% 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, showing an overwhelming positive response to companies with a higher brand purpose. The research shows that 83% 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. "71% 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 the most effective, as 94% 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% OF MILLENNIALS (58% of consumers) still prefer finding new products in store to finding them online, proving that 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 representative sample of n=1001 american adults aged 18+.
For more insights into consumer culture download 5WPR's Consumer Culture Report.
About 5W Public Relations
5W Public Relations is a full-service PR agency in NYC known for cutting-edge programs that engage with businesses, issues and ideas. With more than 150 professionals serving clients in B2C (Beauty & Fashion, Consumer Brands, Entertainment, Food & Beverage, Health & Wellness, Travel & Hospitality, Technology, Nonprofit), B2B (Corporate Communications and Reputation Management), Public Affairs, Crisis Communications and digital strategy, 5W brings leading businesses a resourceful, bold and results-driven approach to communication.
About Maru/Matchbox
A different breed of global insight partner, Maru/Matchbox has built proprietary technology that enables our experts to connect with the people that matter most to our clients. Our agile tech platforms enable us to connect with customers, provide on-demand insight and combine quality research and analytics with deep sector expertise, so our clients can build and maintain a competitive advantage.
Media Contact
Ronn Torossian
[email protected] / 212-999-5585
SOURCE 5W Public Relations
Share this article