“What does Momentum tell us about the purchase journey?” Yesterday the DGC team attended a MEC press conference at MEC’s Cabana No. 5, for the global launch of Momentum — a proprietary global study that takes a new approach to understanding and measuring how consumers make purchase decisions today.
MEC’s Global Head of Analytics and Insights, Stephan Bruneau; Stuart Sullivan-Martin, Global Strategy Officer, MEC UK; and Damian Thompson, Head of Consumer Insight, MEC; walked us through what Momentum means for marketers.
The study examined purchase decisions of over 100,000 consumers across 12 categories and 11 markets. Momentum quantifies consumer bias in categories such as, CPG, retail, durable goods and electronics. The research defines the following stages of the decision-making process: Passive, Trigger, Active and Purchase.
More than half of us have a clear idea of what we will buy before we enter the buying process. This is called Passive Stage bias. People with Passive Stage Bias consider fewer brands and are less concerned with price when making their choice. Flat-screen TVs, for example, have the lowest passive stage bias with 25%. This new approach to understanding the purchase journey can help to develop better brand strategies and grow your brand.
MEC built on its client work in understanding the purchase journey and combined it with theories that have emerged over the last five years. Here’s how Stuart Sullivan-Martin, Global Strategy Officer, MEC UK, explains it:
The Momentum study closes gaps in understanding between what shoppers do during the purchase journey, how their perceptions of a brand influence their behavior, and how they use media and brand communication to make choices. Here’s a look at what Charles Courtier, Global CEO MEC, had to say about Momentum and its impact for MEC’s clients:
Charles Courtier, Global CEO, MEC, discusses MEC’s groundbreaking study, “Momentum,” at the press launch held at MEC’s Cabana No. 5