Consumer behavior does not exist in a silo; their decisions are impacted by forces outside the narrow purview of any industry or brand. So how do brands better understand their current and potential customers to ensure they make the right business decisions? In essence, they need consumer-centric information that is trustworthy, timely, and relevant. This is why we partnered with some of our best clients to create The [Your Brand] 360 Report.
The 360 Report scans the CivicScience database of thousands of always-on questions. It discovers key insights for your brand by comparing them to competitive and consumer segments, identifying differences and similarities, and alerting you to shifts in categories like financial outlook, media consumption, and health and wellness. So you never miss an opportunity or threat.
We ran The 360 Report for CVS shoppers and compared them to Walgreens to show the depth of consumer intelligence that this product offers. Below you’ll find insights from three of the report’s verticals.
Financial Outlook Insights
CVS customers have a more positive outlook on their financial status.
CVS and Walgreens clientele have some notable differences regarding the economy and finances. Although both retailers are more optimistic about the U.S. economy than the average U.S. adult, CVS customers have a more positive outlook on their financial status. One-third of CVS customers are hopeful about their financial situation getting better in the next six months. In contrast, Walgreens customers have a less positive outlook when it comes to their savings, credit score, investments, and reducing their debt within this same time period.
While low, CVS shoppers are significantly more inclined than Walgreens shoppers (13% vs. 8%, respectively) to believe that now is a good time to make a major purchase. Walgreens customers, on the other hand, are more likely to carry credit card debt and be concerned about inflation.
Industry Insights- Consumer Packaged Goods
Shoppers from both chains think brands should stay away from social issues.
Shoppers at Walgreens and CVS are more inclined to boycott brands that support causes they oppose compared to the average U.S. consumer. They are also more likely to think that brands should stay away from social issues.
Although U.S. consumers’ purchase of environmentally friendly products has decreased from the previous month, CVS and Walgreens customers place more value on these products. CVS shoppers are most concerned about supply chain issues, and 17% said that the main reason for buying an unknown or lesser-known brand was because the desired brand was out of stock.
Both customer groups are more loyal to their preferred brands than the average U.S. adult, with product quality being the top reason for their loyalty.
Health & Wellness Insights
CVS shoppers place higher importance on health and fitness than Walgreens shoppers.
Shoppers at CVS and Walgreens have similarities and differences in their health habits. Both groups tend to get more sleep than the average U.S. adult, but CVS shoppers place higher importance on health and fitness than Walgreens shoppers. Only 35% of Walgreens shoppers consider health and fitness important in their lives, which is eight percentage points lower than CVS shoppers. Furthermore, Walgreens shoppers are less likely to follow health and fitness trends and current events.
Although physical health is not as important to Walgreens shoppers, they tend to experience fewer mental health concerns (5 percentage points lower than CVS shoppers). Additionally, while CVS shoppers and the general US population have reported an increase in mental health concerns compared to the previous month, this was not the case for Walgreens shoppers.
There is much more to The 360 Report than what is provided in this summary. The report is customized to focus on what is essential to your business: the verticals shown above, media consumption, emerging trends, or social issues/concerns. CivicScience has you covered. Read below to find out more!
About the 360 Report
The 360 Report covers topics and categories beyond what is shown above. The report covers industry-specific categories, emerging trends, shopping behaviors, social issues/concerns, and more.
Only CivicScience paints an always-on, ever-evolving, 360-degree picture of your current and potential customers – ensuring you never miss an opportunity or risk.
The 360 Report:
- Delivers a complete and timely view of trends and shifts in consumer attitudes, lifestyles, and intent.
- Predicts consumer behavior and powers more forward-looking strategies and marketing investments, maximizing growth and profitability.
- Provides invaluable, timely knowledge to accelerate decision-making and give you a unique competitive edge.
- Alerts you to trends and changes as they happen, ensuring you never miss an opportunity or threat.
Ready to build your custom 360 Report? Start here.