The Story Wave 3

1. Retail, Grocery & Ecommerce: An Industry Snapshot

Our recent report on the state of the retail and ecommerce industries explores consumer sentiment towards Buy Now Pay Later (BNPL) plans, in-store shopping, and popular grocery brands. Using QuestBrand data, we rank the leading food and beverage brands by brand equity and growth. Here are some key takeaways:

• Almost half (48%) of US adults have used a BNPL payment plan, and even more (61%) say that they are likely to use a BNPL plan in the future.
• While convenient, 75% of US adults worry that BNPL plans make it easy for consumers to blow their budget.
• Younger consumers (18-34) are more likely than middle-aged consumers (55-64) to feel overwhelmed shopping at a physical retail store (55% v 20% respectively).

Download our report for a closer look at how US consumers feel about key retail trends. Understanding consumers’ purchasing patterns is essential for generating sales and growth.

2. Costs Takeoff as Consumers Prepare for Holiday Travel

In a recent Harris Poll study on behalf of NerdWallet, we explore how much Americans plan to spend on holiday travel, and how they are prepping their pocketbooks in light of inflation:

• More than a third (37%) of holiday travelers are concerned about how much their travel plans will cost due to inflation.
• To save up for their upcoming travel expenses, 36% are cutting back on everyday spending, and 27% plan to spend less on holiday gifts.
• Trying to sidestep a headache: 29% of holiday travelers are choosing to drive to avoid airline issues (i.e., lost baggage, cancelled flights) while 20% are flying to avoid high gas costs.

Takeaway: Travel will be expensive this year. The earlier that consumers begin saving and planning for holiday travel expenses, the better. If travel expenses are made on a credit card, prioritize paying those off as soon as possible to avoid accruing interest for an even higher travel bill.

3. Dove Brings Body Acceptance to TikTok – Case Study

In Spring 2021, beauty brand Dove partnered with TikTok for a body-positive campaign that encouraged users to post without altering their images. Using QuestBrand data, we can see how advertising on TikTok impacted young consumers’ relationship with the Dove brand:

• More than 40% of Gen Z use TikTok, making this an ideal platform for Dove to connect with younger consumers over the message of body acceptance.
• Along with a #NoDigitalDistortions TikTok challenge, Dove got the attention of young viewers with promoted posts and strategic influencer partnerships.

Download our case study to see just how much this body-positive campaign resonated with young consumers and impacted their use of the Dove brand.