A recent report shows that 54% of American consumers prioritize product needs over brand loyalty, signaling a shift in consumer engagement expectations. With the rise of the 'Engagement Era,' personalized omnichannel strategies are critical, yet only 19% of brands achieve success in this domain. Though many brands possess the capability to engage and predict consumer behavior in real-time, only a fraction are executing these strategies effectively. Additionally, the report highlights a concerning trend—57% of consumers are gravitating towards own-label brands, driven by affordability and perceived quality, compelling marketers to rethink their engagement approaches by 2025.
More than half (54%) of American consumers say they don't pay attention to the brands they buy, as long as the product meets their needs.
Success in this 'Engagement Era' depends on a personalized omnichannel approach across the customer lifecycle, yet only 19% of brands excel in this environment.
57% of American consumers have switched to own-label brands due to affordability, indicating brand loyalty challenges for traditional brands as they become commoditized.
88% of marketers acknowledge the need to overhaul engagement strategies by 2025, yet only 32% feel equipped to personalize their marketing effectively.
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