Trust, Value and Variety: What Helps Brands Stand Out, According to Consumers

Consumers have more options now than ever before. Just this year, for example, Target added 2,000 wellness-focused products to its stores; that’s thousands of new choices at just one store in one category. This highly competitive landscape means it's crucial for brands to know what is most important to their audience when they’re choosing what service to use or product to buy. 

While consumer preferences are constantly evolving, Morning Consult research suggests there are key factors that help buyers decide on whether they want to shop with a brand, regardless of industry. 

Trust is crucial, especially in high-touch industries

Trust is one of the most important metrics brands track. That’s why we ask thousands of consumers each and every day how much they trust a brand to do what’s right, and there’s often a lot of nuance to trust and consumers place even more importance on it depending on the industry. 

Take banks. In a recent pulse check on what consumers think is most important when choosing a brand in a number of key industries, trust topped the list. Roughly 3 in 5 (61%) consumers said it’s important they trust a bank to keep their money safe when deciding which to use.  

Trust is also critical to consumers when choosing a brand in industries they frequently interact with, like retail and beverage. Over half of consumers said it’s important they trust a beverage brand (52%) will deliver on consistent quality, and a similar share (57%) said the same about retailers when deciding what to buy. Products in both categories either go into the body, or on the body, so it makes sense trust is of the greatest importance when deciding just what to buy.

No matter the industry, getting a good value is of utmost importance

Another attribute many consumers agree is important regardless of the industry is value. In fact, getting a good value for the price is in the top three most important factors when choosing a brand in nearly every industry we surveyed about.

This is especially true of industries that sell more expensive products and services, like auto and airlines. Nearly 3 in 5 (58%) of consumers said when they’re deciding to buy a car, it’s important that the brand they choose provides “excellent value for the price.” Similarly for airlines, 48% of consumers said it’s important that the airline they fly “provides good value for the price of the ticket.”

Value is likely to only grow in importance as consumers grapple with the accelerated cost of living. Our recent research showed that no matter their income level, more consumers are turning to less expensive or more affordable options

Demographic groups rate the most important factors for brands differently

While there is clearly a lot consumers can agree on, it’s still crucial for brands to know their audience to determine what features to dial up when communicating with them. 

For beverage brands trying to reach older consumers, that might look like focusing on value messaging, given baby boomers are 13 points more likely to say it’s important a beverage brand provides good value for the money they spend.

If trying to reach younger consumers, eye-catching branding is a must. Gen Z and millennial consumers are 14 points more likely to say it’s important for a beverage brand to have “attractive and distinctive packaging that stands out,” compared with baby boomers. They may even buy a product simply because its logo slays.

This trend is not true of just beverage brands, but in other industries as well. For example, when deciding what social media brand to use, nearly half (48%) of U.S. adults say it’s important for the company to protect their personal data and respect their privacy, the top of any other factor we surveyed on.

The intensity of this belief is even stronger for older consumers. Baby boomers are 9 points more likely than U.S. adults to say it’s important for a social media brand they use to protect their data and respect their privacy.