For Young Consumers, Brand Reputation Beats Price for Online Purchase Influence
Among 18 to 24 year-olds, 43% cited brand reputation and reviews as the key influence for online purchases directly from a brand, per Wunderkind.
It may be easy to assume that price is the all-important factor when it comes to influencing purchases. And while that is the case at a high level — 57% of overall consumers cite “price competitiveness” as the top factor in choosing a brand to buy from directly — younger demographics have something else on their mind, according to Wunderkind’s 2024 Consumer Insights Report:
- Among 18 to 24 year-olds, 43% cited brand reputation and reviews as the key influence for online purchases directly from a brand, followed by brand values (36%). Those stats are similar for 25-34 year-olds.
- Wunderkind notes, “These figures are a great representation of shifting motivators for younger consumers, who’ve demonstrated disproportionate interest in social proof, sustainability and overarching brand purpose, as opposed to simply choosing the brands that offer the lowest price.”
- Across all age groups, aside from price, product quality is important (53%), followed by shipping options (45%), previous experience (38%), brand reputation & reviews (32%), brand values (22%) and advertisements (8%).
