Authenticity is now a key new driver for revenue and loyalty among global shoppers as the trend for more mindful consumption continues, the latest research from Asendia, the leader in international e-commerce and mail delivery solutions, reveals.
Original research of over 8,000 global shoppers in Asendia’s “How To Sell Direct In The Age Of The Conflicted Shopper” Report showed more than two thirds (67%) of global shoppers would spend more money with retailers they perceived to be authentic, with 59% saying they would only shop exclusively with authentic retail brands.
The key values defining authenticity for global shoppers were: being straightforward on delivering promises (58%), transparency within supply chains (43%), standing up for sustainability (39%), clear brand values (39%), and transparency with supplier relationships (34%).
73% of global shoppers also said authenticity made them more loyal to brands, with a further 65% saying they would switch to a competitor if they felt a retailer wasn’t authentic. Shoppers in Hong Kong (73%), France and Spain (both 72%) proved the most likely to switch brand allegiances, while shoppers in Hong Kong (80%) and the United States (75%) were the consumers whose spend propensity was the most impacted by a brand’s authenticity.
In the context of economic global headwinds and the rising cost-of-living putting extra pressure on household budgets and discretionary spend, authenticity is also helping retailers fend off rising price-sensitivity among shoppers. While a third of global shoppers plan to cut back on the volume of things they buy in 2023, almost half (48%) said a brand’s authenticity would make them less sensitive to inflationary price increases. However, this dipped to 43% of shoppers in the UK, where inflation remains close to a 40-year high.
“Brands and retailers need to take control of their own destiny when it...
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