NUMERATOR QUANTIFIES THE IMPACT OF MEMORY LAPSE ON MARKET RESEARCH
Over 50% of Consumers Forget the Brands They Buy
CHICAGO, Oct. 14, 2024 (GLOBE NEWSWIRE) — Numerator, a data and tech company serving the market research space, has published new research quantifying the extent of consumer memory lapses when it comes to brands they recently purchased. The market research standard in place today relies heavily on consumer recollection of the brands they purchase and is used to support millions in investment and strategy decisions. The new Numerator study explores the difference in response when buying behavior is verified versus claimed, with the potential to significantly shift brand strategy.
In August 2024, Numerator fielded surveys to nearly 23,000 verified buyers of 30+ consumer packaged goods (CPG) categories across the five key CPG sectors (Baby, Grocery, Health & Beauty, Household and Pet). The claimed responses were then compared to comprehensive, longitudinal purchasing data based on shared purchase transactions. The study revealed that, on average, over half of consumers did not recall the brand they had recently bought within a category, and on average 20% of buyers did not remember making the category purchase at all (“forgotten recall”).
Additional research quantifies the impact that relying on respondent recall can have on research quality. Brand satisfaction calculated from Top Box scores is often overstated when those buyers who forgot they purchased the brand were excluded because those consumers tend to have more neutral or negative opinions. Purchase drivers also differed significantly for those who claimed to have purchased a brand and those who actually did, which could lead to misinformed strategies.
The study also indicates that verified buyers open the door to precision targeting of niche cohorts like leaked and lapsed shoppers, new buyers, etc. would be impossible without verified purchasing behavior.
This research was made possible by Numerator’s ability to identify and target verified buyers through its mobile app, where users opt in to share purchase data, attitudes, and opinions.
About Numerator
Numerator is a data and tech company bringing speed and scale to market research. Numerator blends first-party data from over 1 million US households with advanced technology to provide 360-degree consumer understanding for the market research industry that has been slow to change. Headquartered in Chicago, IL, Numerator has 2,000 employees worldwide; 80 of the top 100 CPG brands’ manufacturers are Numerator clients.
CONTACT: Bob Richter Numerator 212-802-8588 press@numerator.com
