A new Euclid survey reveals that consumers value brands that share aligned values – even more than the brand’s actual products
SAN FRANCISCO, June 13, 2018 (GLOBE NEWSWIRE) — Euclid, the leading data platform for offline attribution and store visit retargeting, today revealed results of a new survey that shows the majority of consumers – 52 percent of Millennials and 48 percent of Gen Xers – feel it’s important that their values align with the brands they like. In contrast, just over a third (35 percent) of Baby Boomers agreed.
Euclid’s report, Evolution of Retail: The Brand Perception Effect, found a brand’s values are increasingly important to consumers and thus a potential differentiator for retailers in a tough industry environment. Of the consumers surveyed, 68 percent of Baby Boomers indicate products are equally as important as the brand’s values to their perception of the brand; in contrast, just 54 percent of Millennials and 59 percent of Gen Xers feel the same.
Brands are sometimes hesitant to be too out front about their principles and values, but younger respondents made it clear that values, properly articulated, can serve as powerful motivation to patronize a brand. One-in-three Millennials (35 percent) and a quarter of Gen Xers (24 percent) say brands being overly political is important to their perception of the brand, while 56 percent of Baby Boomers say it is not important to their perception.
“Millennials place a premium on personalization, convenience and technology,” said Brent Franson, CEO of Euclid. “But our research also underscores the importance of values in a Millennial-led economy. Brands that want to resonate with this conscientious generation should be authentic and unapologetic about what they stand for – while still providing exceptional products, experiences, and the technology-driven convenience Millennials expect.”
Brand loyalty fuels cross-channel shopping among Millennials. Twice as many Millennials as Baby Boomers indicated they’d search for and even purchase a brand’s products online 70 percent of the time or more after learning there was no physical location near them. Digital native shoppers, it appears, are unfazed by switching channels if it means finding what they want from a brand they like with relative ease and convenience. In contrast, just 21 percent of Baby Boomers and 29 percent of Gen Xers indicated they’d do the same.
Additional survey highlights include:
- Not all generations are enthused by the idea of integrating smart assistants into the home. Baby Boomers (70 percent) are less inclined to see smart assistants like Amazon’s Alexa and Google Home involved in their shopping experience and say they do not want smart assistants in their homes. In contrast, less than a third (28 percent) of Millennials say the same.
- Millennials are excited by the convenience smart assistants can provide. This generation is interested in using smart assistants to get real-time updates on the latest product offers from their favorite retail outlets (34 percent), purchase items to then pick up in-store (23 percent), and have product returns scheduled on their behalf (20 percent).
- Millennials are out front on augmented and virtual reality technologies. On average, Millennials (26 percent) are far more excited by store shopping experiences that incorporate an augmented reality or virtual reality component (e.g., smart dressing rooms, virtual makeup mirrors, and the ability to test how furniture looks in a living space), than Gen Xers (20 percent) or Baby Boomers (12 percent).
To download a free copy of “Evolution of Retail: The Brand Perception Effect,” visit: http://go.geteuclid.com/brand_perception_effect
Euclid illuminates identity and behavior in the physical world. Today’s mobile-first customer provides the opportunity to recognize every visitor who walks in the door, understand what drove that visit and retarget to influence a purchase. Marketers from the leading retail and restaurant brands rely on Euclid’s data platform to better reach, inspire and serve their customers, increasing their lifetime value in the process.
Euclid’s growing offline network captures hundreds of millions monthly visits from over one billion unique devices across tens of thousands of locations.
Euclid is backed by leading venture capital firms Benchmark Capital and NEA, as well as Cox Enterprises and Groupe Arnault, the controlling shareholder of LVMH – Moet Hennessy Louis Vuitton, the world leader in luxury products.
CONTACT: Media Contacts: Christiana Rattazzi Euclid (408) 497-0612 firstname.lastname@example.org Sheridan Smalley LEWIS for Euclid (415) 432-2477 email@example.com
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