Outbrain report finds current economic situation is affecting consumer behaviour

Leading recommendation platform for the open web, Outbrain, has revealed a new holiday shopping report on consumers’ changing financial attitudes. 

The report has found that while consumers around the world are becoming more cautious with their spending and consumption habits, they are also optimistic about their finances into the future. 

Conducted by Outbrain and using data from the GWI Zeitgeist, the research surveyed over 50,000 online consumers across the globe between June 2021 and July 2022. 

The report revealed that interest in the economy is at a high, with the number of page views for business and finance-related content increasing 106% between May and June 2022, and at the highest point in two years. 

Marketers already taking advantage of this trend have reaped the benefits. Brand messaging around today’s economic conditions and its relevance in driving consumer clicks has grown by 39.5% from Q1 to Q3 2022. 

Heightened economic uncertainty has also made consumers more wary. Cautious shoppers were found to be much more likely to research products online before making a purchase, with 65.5% doing so compared to just 39% of other shoppers.

But, they were also more likely to be loyal to the brands they like. Globally, 50.36% of frugal shoppers are loyal, compared to 39.6% of other shoppers.  

Despite the financial challenges facing consumers, the research found they’re still optimistic about the future. 60.8% of the respondents believe they will be in a better position six months from now. 

Ayal Steiner, Vice President of Global Ad Revenue at Outbrain comments: “This holiday season, brands are on the cusp of real opportunity. This research shows there’s a valuable window of opportunity for marketers to generate trust and value for their brands, but they will need to move fast to avoid missing out.

“With the right approach, frugal shoppers can become some of your best, most loyal customers. By appealing to convenience and emphasising low prices, marketers can connect with new consumers by delivering the services they truly want and need.”

Andy Burke, Managing Director APAC and Growth Markets at Outbrain, adds, “The research proves that the next few months will be absolutely pivotal for brands looking to set themselves up for lasting growth. If you want to reach new customers, establish a presence on multiple channels and be prepared for them to research your brand before making a purchase.

“And with ads on the open web increasingly going toe to toe with social media, marketers who diversify their channels will be in a better position for the long run.” 

Brands can learn more in the report here: https://www.outbrain.com/resources/guides/the-marketers-guide-to-boost-sales-in-2022