How important is brands in the digital age for shoppers? New research from Blackhawk Network examines how branded value motivates shoppers to spend and engage with brands, thereby measuring the value of brands in today’s economy.
In Blackhawk’s survey, the respondents report high levels of trust in brands. Ninety-one percent of respondents said that they trust their favorite brand somewhat or very much. Trust in brands is also higher than other entities that consumers interact with, such as banks, social networks, the government and the media.
Blackhawk commissioned the independent research to study branded value – a branded object of value that can be accepted in payment or exchange for another product or value. Branded value can include things like gift cards; loyalty points; rebates; alternative payments like mobile wallets, app payment methods, and contactless payment methods; and targeted offers.
Marketers have long used these tools to create rewarding experiences and build consumer engagement, and are now beginning to define and understand them as branded value.