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Brand equity is top purchase driver for consumers, beating out ads

Article by Arielle Feger  |  Nov 9, 2023
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Brand equity is top purchase driver for consumers, beating out ads
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Topics
Consumer Attitudes on Marketing
Brand Marketing
Baby Boomers
United States

For more insights and key statistics on the biggest trends in today’s most disruptive industries, subscribe to our Chart of the Day newsletter.

Factors That Influence US Adults Decision to Choose a Brand or Item, Total vs. Ages 55+, Aug 2023 (% of respondents)
E-Mail ChartDownload

Key stat: Knowing and trusting a brand is the top factor influencing purchase decisions for US adults, particularly among those ages 55 and older, per an August 2023 CivicScience survey.

Beyond the chart:

  • The most effective way for brands worldwide to build or increase consumer trust is to own up to their mistakes, per a May 2023 survey by Edelman.
  • Other ways brands can build trust include being transparent about their climate impact, supply chain, and employee diversity, and by working with the government to develop regulations.

Use this chart:

  • Identify which strategies drive people to buy.
  • Recognize the importance of brand marketing.

More like this:

Methodology: Data is from the October 2023 CivicScience as cited in company blog. 4,440 US adults ages 18+ were surveyed online during August 18-23, 2023. Data is weighted according to the US Census.

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