4 Min Read
Brands risk falling behind as consumers’ expectations rapidly change. Economic uncertainty and higher prices spur consumers to re-evaluate spending and priorities. In a recent Bloomberg, Harris Poll survey consumers brace for price hikes: Most Americans (60%) expect tariffs to raise prices and likely harm rather than boost the U.S. economy (44% v. 31%). The impact is felt daily: six in 10 (61%) have noticed grocery prices climbing.
But here’s the thing—consumers aren’t just tightening their belts. They’re sharpening their expectations, and they’re not afraid to leave brands that don’t deliver.
According to new data from survey software QuestDIY by The Harris Poll, innovation has emerged as a critical factor influencing loyalty.
When Choosing a Brand, Consumers Want it All
Price and product quality remain table stakes when it comes to today’s consumers choosing a brand. Today’s consumers are increasingly drawn to brands that bring something new to the table.
- 78% of consumers say affordable pricing is important when choosing a brand
- 90% of consumers age 55-64 say that this is important
- 72% of consumers say product quality is their top decision factor
And while price and product quality are top factors for consumers choosing a brand, 30% of consumers said that product innovation is important as well. Consumers want brands that not only deliver but evolve with their needs and lifestyles.
The Speed of Innovation Matters
Many consumers believe brands aren’t innovating fast enough to keep up with modern expectations.
- 54% of consumers think it is very important for brands to consistently innovate.
Food and beverage brands, in particular, face rising pressure to innovate faster and smarter. Consumers expect to see innovative products at least once a month in the following categories:
- 36% expect new products from food and beverage brands at the grocery store
- 32% expect new products from restaurants
- 27% expect new entertainment products
- 26% expect new clothing products
- 25% expect new beauty products
That’s a tall order even for the most nimble brands. Meeting this demand means staying closely connected to your audience. One tactic brands leverage to stay constantly connected with fans, customers, and target audiences is through insight communities. Iconic brands from famous MLB teams to budget-friendly airlines use custom-built insight communities to gather quick feedback from their fan-base on new ideas and existing experiences. Consider a tailored insight community to co-create ideas, concepts, and experiences with your target audience.
The Cost of Standing Still
Business as usual isn’t cutting it when every brand is vying for dwindling wallets.
- 61% of consumers reported they are likely to switch to a competitor that offers more innovative products or services.
Innovation can look a lot simpler than sending Katy Perry to space by doubling-down on what’s important to your target audience. For instance, Taco Bell knew Gen Zers preferred chicken to red meat and used those insights to launch a new menu item. According to a QuestBrand brief, Taco Bell released Crispy Chicken Nuggets, marinated in jalapeno buttermilk and coated in crunchy tortilla chip breading. Nearly one-in-six Taco Bell orders contained the nuggets after their release, with 5 million customers giving them a try.
Four Ways to Keep Pace with Expectations
Accelerate Innovation Cycles
Use online survey tools like QuestDIY to test new ideas quickly and bring fresh offerings to market faster.
Tap into Real-Time Feedback
Continuously gather consumer insights to anticipate shifting needs and preferences.
Deliver with Purpose
Align new offerings with consumer values such as sustainability, quality, wellness, and convenience.
Don’t Neglect Brand Perception
Keep a pulse on your brand to track and take action on changes in brand sentiment and competitors.
As consumer expectations continue to evolve, one thing is clear: brands that stand still risk being left behind. With real-time insights from the Harris Poll, you can stay in sync with what consumers want now—and next.
