Edelman’s survey showed that consumers are more aware and making fewer impulse purchases
Increased vulnerabilities due to global conflicts, inflation and climate change are creating increasingly proactive, thoughtful and demanding consumers. This is what the “Edelman Trust Barometer 2023 Special Report: The Collapse of the Purchase Funnel” pointed out.
Among the data presented by the Edelman study, it was revealed that 72% of Brazilians discover things that attract them and make them loyal to a brand after the first purchase and, in this scenario, 88% of respondents stated that, in addition to just using the products or services, they also interact directly with brands.
Regarding the national market, the research shows that consumers are more likely to buy from brands that are committed to taking measures such as improving access to healthcare (10.5 times more likely), combating racism (8.5 times more likely) and address climate change (6 times more likely).
Another point presented by the survey is that, since last year, consumers are examining brands more closely, making them 76% of Brazilians are more aware of prices, 66% are making fewer impulse purchases and 72% are researching more before buying.
“Certain movements presented in the study have already been occurring for a few years, but since the pandemic and with the new issues, they appear more clearly. We talk about the collapse of the purchase funnel, but also about the realization of the ‘trust cycle’. Today I am It is important that brands create other forms of connections with their consumers, so that purchasing becomes just the starting point”, explained Marclia Ursini, Executive Vice President of Edelman Brasil.
The analysis highlighted what are the main considerations for Brazilian consumers when they are buying a brand, which are best quality (93%), good value for money (92%), quality of service (90%) and trust ( 80%).
Although this data is reflected across all age groups, the survey showed that Generation Z has raised the bar for consumers’ relationships with brands, with 64% of them stating that brands should make their values more visible. For 62% of them, if a brand does not communicate its actions to deal with social issues, they assume that it is not doing anything or is hiding something.
Furthermore, the study found that this generation is influencing the way Brazilian consumers buy and interact with brands, with 66% of respondents of other ages stating that teenagers and young university students influence them about where and how to shop.
“The linear action of brands, represented by the traditional purchase funnel, is no longer effective due to a series of factors, starting with the consumer profile and relationships that are much more complex and dynamic. With growing concerns about social issues and more vulnerable consumers It is essential that brands act beyond their businesses to build trust with their audiences.” added Marclia.
The survey was carried out in 14 countries, including Brazil, with around 13,800 respondents, between May 1 and 12, 2023.
