Leading AI-Driven Data Insights Firm Unveils the Consumer Buying Behaviors Driving Growth in 2024
Resonate, a pioneer in AI-driven consumer data and intelligence, released its State of the Consumer 2024 report, which takes a first-of-its-kind, AI-powered deep dive into current buyer behaviors and motivations and the pivotal differences between two key consumer groups: ethical values-driven consumers and economic value-driven consumers – in the backdrop of turbulent economic and geopolitical times.
“We continue to evolve our use of technology in the pursuit of revealing powerful human understanding,” said Bryan Gernert, Resonate CEO. “This year’s ground-breaking consumer insights report – which explores the tug-of-war between ethical values-based and economic value-based buyer decisions – is the product of our proprietary AI Insights by rAI. Using this technology, we are able provide an in-depth look at the headspace driving these two groups of consumers and how each plays a part in the landscape for the year ahead. Whether you are a brand or agency, you can’t afford not to know the state of the consumer in 2024.”
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The Resonate State of the Consumer 2024 report assesses the buying state of the American consumer in the context of current market conditions. This year’s edition provides a thorough analysis of the economic value-based consumer vs. the ethical values-based consumer to determine whether this year will be a year of value or values. Key insights into each segment include the following:
- The Economic Value-Driven Consumer (172 million U.S. adults): These consumers prioritize value—and it’s not just about being frugal. They’re worried about their household’s financial situation. They value conformity, influence, and freedom; their hobbies include cooking and arts and crafts; they’re anxious about technology and tend not to travel due to the cost of amenities and/or anxiety.
- The Ethical Values-Driven Consumer (130.4 million U.S. adults): These consumers not only care about values-driven consumption, but they’re also willing to pay more based on an important issue. These consumers are driven by their creativity and optimistic outlook. Their hobbies include yoga, running, group travel, and going to concerts, and they tend to buy organic foods and consider themselves to be early adopters and tech enthusiasts.
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These insights, and others included in the State of the Consumer Report, are mined from the Resonate AI-powered data set, which includes thousands of attributes about individual consumers including psychographics, intent, values, behaviors, preferences and media consumption. To build the report, Resonate leveraged its proprietary AI engine, rAI, to segment buyers into 3 audiences using 14,000 proprietary, privacy-safe attributes. The unparalleled consumer data and resulting insights can be used throughout the customer lifecycle — from increasing the precision of predictive models to improving marketing effectiveness and media performance, to informing customer experience and preventing churn.
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