Have you ever found yourself choosing to shop at one store over another because you feel they are more authentic? If so, you're not alone. According to Asendia, authenticity has become a significant driver of revenue and loyalty for American shoppers.
In a recent survey of over 8,000 shoppers across eight countries, Asendia found that 75% of U.S. shoppers said they would spend more money with retailers they perceived to be authentic. Additionally, 70% of American shoppers said authenticity made them more loyal to brands.
What defines authenticity for American shoppers? The top factors include being straightforward on delivering promises, clear brand values, transparency within supply chains, standing up for sustainability, and acting upon brand values.
Interestingly, authenticity is also helping retailers fend off rising price-sensitivity among shoppers. While 70% of American shoppers plan to cut back on spending in 2023, 8% of U.S. respondents said a brand’s authenticity would make them less sensitive to inflationary price increases, rising to 66% of millennials.
It's not just about the younger generations, though. America’s “Silent Generation,” those aged 76 years old or older, were the most likely to see an impact on spend with authentic brands (80%), closely followed by baby boomers (77%), the 57–75 year old age group, and then millennials (76%).
So, what can retailers do to meet these demands for authenticity? Shoppers expect accountability and transparency from retailers, whether through greater transparency around supply chain emissions, delivery promises, or offering low-carbon or carbon-neutral shipping options. Brands and retailers need to take control of their own destiny when it comes to shaping the authentic shopping journeys consumers are now demanding.
75% of U.S. shoppers would spend more money with retailers they perceived to be authentic
70% of American shoppers said authenticity made them more loyal to brands
Top factors defining authenticity for American shoppers include being straightforward on delivering promises, clear brand values, transparency within supply chains, standing up for sustainability, and acting upon brand values.
8% of U.S. respondents said a brand’s authenticity would make them less sensitive to inflationary price increases, rising to 66% of millennials.
America’s “Silent Generation,” those aged 76 years old or older, were the most likely to see an impact on spend with authentic brands (80%), closely followed by baby boomers (77%), the 57–75 year old age group, and then millennials (76%).
You can read more about Asendia’s research report. Original article