Consumer Behavior

Consumers optimistic on economy, brand loyalty spend growing

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March 8, 2024

A good number, 78%, of consumers are willing to pay more to shop with brands they're loyal to – a jump from 72% in 2023 – and 50% are optimistic about the economic outlook.

The economic outlook is higher than last year's 42%.

Those are findings from a Marigold survey, Consumer Trends Index, that polled over 1,000 Americans, according to a press release.

Additional findings include:

• 77% of Gen Z and 81% of millennials cite they are likely to engage with messages about brand purpose-related activities, compared to 62% of Gen X and 53% of Baby Boomers.
• In a similar fashion, 67% of Gen Z and 73% of millennials find brand purpose to be important or critically important to maintaining brand loyalty.