In a volatile world rife with pressures on consumers, from health and the economy to challenges to rights and freedoms and an eroding sense of community, consumers are demanding more from brands.
The relationship between consumers and brands must evolve, as people feel more vulnerable, and their expectations of brands grow. The 2023 Edelman Trust Barometer Special Report: The Collapse of the Purchase Funnel tells us that consumers are looking for ongoing engagement after the point of purchase and their need for trust grows with feelings of vulnerability.
Gen Z on Gen Z: The Collapse of the Purchase Funnel
Giselle Huasipoma and Gabe Gomez, Edelman Gen Z Lab ambassadors, sit down to unpack findings from the Edelman Trust Barometer Special Report: The Collapse of the Purchase Funnel. They discuss Gen Z asking more questions throughout their purchasing journeys, the future of online versus brick-and-mortar retail experiences, and why they don't want to be "ghosted" by brands.
Personal and societal threats have led to a more discerning consumer
are more price conscious
are doing more research before they buy
are making fewer impulse purchases
say there are brands they will not buy because of the countries in which they are HQ'd
* Blue circle indicates a statistically significant change yoy
Gen Z is impacting the entire buying ecosystem
79% of Gen Z say it’s more important than ever to trust the brands they buy, more than any other generation surveyed
68% of consumers say Gen Z influences where and how they shop, with a staggering 12-point increase in one year on those age 59+
Trust and Brands: The Collapse of the Purchase Funnel
Richard Edelman, CEO.
Edelman’s most recent Trust Barometer special report, The Collapse of the Purchase Funnel, finds that today’s buying behavior is too dynamic for a linear funnel and that purchase is no longer the end point but the start of an ongoing relationship with the consumer.
Three Mandates Marketers Must Adopt to Build Brand Trust in 2023
Jackie Cooper, Global Chief Brand Officer & Senior Advisor.
When we ask ourselves, what has really changed in the last year? The truth is that everything has. Consumers are feeling the pressure from every corner of our world - from the micro, everyday things like paying their bills to the macro, big picture things, like the smog outside their city windows..
Gen Z Harnesses Vulnerabilities, Asking Brands to Stand Up for All Consumers
Bianca Brown, Senior Account Executive and a U.K. Ambassador to Edelman’s Gen Z Lab, in conversation with Ellie Smith, Content Supervisor at the Edelman Trust Institute.
The Edelman Trust Institute sat down with Bianca Brown, Senior Account Executive and a U.K. Ambassador to Edelman’s Gen Z Lab, to discuss findings about Gen Z in the 2023 Edelman Trust Barometer Special Report: The Collapse of the Purchase Funnel.