European Consumer Trends Index 2023
Listening to consumers is more important than marketing to them. And with a looming pan-European recession,this has never been more pertinent. That’s why we surveyed over 7,000 consumers in Europe on everything from what channels they like to purchase from, why they’ve left a favored brand and how their spending habits will change due to the rising cost of living.
Marigold’s latest research reveals what consumers in Europe expect from the brands they do business with online, the channels they prefer to connect on, what value exchanges elicit engagement and how they will amend their purchasing behavior as we enter a predicted economic recession. The breadth of data combined with granular insights will empower digital strategists, marketers and decision makers to see the trends impacting consumer purchasing behavior in Europe and how to deliver relationship marketing strategies that foster long-lasting connections between brand and buyer.
Here’s a taster of what you will find in the report:
of consumers in Europe have made a purchase directly from an email they received in the last year – outperforming banner ads by 100%. As brands own their database, it is not only one of the highest converting channels, but is also comfortably the most cost-effective.
Brand loyalty is on the rise, with 58% of consumers prepared to pay more to purchase from their preferred brands. Almost two-thirds of consumers (64%) cite the loyalty program of their favorite brand as either important or critically important to winning their lasting loyalty.
Almost two-thirds of consumers in Europe are “very pessimistic” about the rising cost of living. As a result, 60% of consumers will be making less impulsive purchases and 43% will rely on loyalty benefits more than previously to make purchases.