Bespoke Survey Insights

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Key Takeaways:

Autos and EVs

• Self-reported auto purchase activity has softened a bit sequentially.
• We have seen declines in those in the market to buy a car in the next 6 months who would choose luxury brands (non-luxury brands have received more consistent feedback). An increasing percentage of consumers (relative to February 2023) are saying that they think the vehicle they own is worth less than the amount they still owe on the car.
• Consumers have been stubborn to shift their thinking on the safety of autonomous vehicles. Over the entire history of our survey, they have viewed humans driving themselves as safer.

Tesla

• The share of those interested in getting a Tesla who want it because it is an EV has declined over time. These folks have been increasingly likely to say they are interested in Tesla purely because of the brand and/or look/status of the car or because of the technology / self-driving features.
• The price cuts from Tesla continue to have a positive impact on consumer opinion toward the brand, but interest in getting a Tesla is softer now than it has been in prior waves of this survey.

Sample Chart From Full Report:

Consumers who are interested in Tesla are increasingly more interested because of the brand/technology, and less because it is an EV.

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Key Takeaways:

Threads

1. Initial pop of downloads and awareness is high.
2. People who have downloaded it give it a positive rating.
3. But NPS is middling for such a new platform.

Social Platforms:

1. Concerns about privacy issues continue to subside.
2. Interest in being verified on social media increased q/q.
3. Reels engagement feedback improved again.
4. After a prolonged period of slow softening, sentiment toward Facebook has been improving this year (toward the platform overall, and specifically toward ads).
5. Snapchat users have been shifting more toward messaging and away from stories.
6. Twitter users have a net favorable opinion of Elon Musk owning Twitter.

Headline Takeaways:

• Generally +ve streaming sector trends.
  • Streaming continues to gain as the preferred method for consuming video content.
  • The number of streaming video services that consumers think is appropriate to sign up for at a given time has increased.
  • But, the average amount respondents think they should spend on streaming video platforms at a given time has been flat for 1-2 years.
• Netflix Trends – Mostly Positive
  • Respondent sentiment is strong / improved.
  • Pricing / value feedback improved sequentially. Pricing power improved sequentially and perception of value improved.
  • Standard with Ads feedback remains positive (better than consumers expected, price point on the money, ad-load expectations remain consistent).
  • Account sharing has declined. Sharers flag that they have seen account sharing emails from Netflix.
  • Competition is increasingly viewed as incremental, not replacement.
  • Churn expectations declined again sequentially.
• Cable TV Personalities – New Questions This Quarter
  • We added some survey question this quarter to understand how important cable news personalities and live sports are to consumers. We found that there is demand for cable TV personalities to go directly to consumers via social media, especially among younger cohorts.

Excerpt of Charts From Full Report:

The more consumers at large consider Peloton to be a fitness and wellness brand for all, as opposed to a luxury hardware brand for some, the larger the TAM opportunity will be for the Peloton app. No better way to gauge this than to ask consumers directly and track sentiment over time.

Though there are exceptions to this rule, changes in consumer perceptions toward brands move more like sherman tanks than sports cars. More simply put, it takes some time to get the engine going and doesn’t happen overnight.

In the chart below, you can see that Peloton was once the viewed by the highest share of consumers who are aware of it as a “luxury” brand. Peloton has shown progress in “de-luxurifying” itself in the eyes of consumers. By contrast, most other brands in the chart have been flattish or up in the luxury perception scale.

July 2023 PELOTON SURVEY DUE OUT SOON

The July wave of our Peloton survey is currently in-field, with results forthcoming in the next few days. If you are a client, you will be able to find the report in our research portal soon. If you are not a client and want to learn more about the full scope of what we cover in this survey or how to get access (available off the shelf or as part of membership tiers), please let us know ([email protected]).

Each month, we isolate readers of various publications and ask them how much they would be willing to pay per month to have a subscription to that site/paper. The chart below shows that the amount readers self-reported being willing to pay peaked during the height of Covid concern (in 2021) and has declined since.

During the most recently quarterly earnings report from the NYT in May, the company reported growing subscribers but lower digital only subscription revenue (indicating possible shifts in subscriptions to lower / promotional subscription prices).

We have a number of interesting insights in our full survey report. If you are a client, login to our portal to view the full report. If you are not a client and want to learn more, please email [email protected].

Sharing some color from our most recent Low-Cost retail survey…

We’re seeing that the share of respondents who point to higher or much higher pricing at Walmart and Target has declined sequentially, but that perception remains that pricing is elevated relative to historical trends.

Those who are shopping target less recently point that they are buying on Walmart or Amazon more.

We’re also seeing that visit frequency softened a bit sequentially. It’s important to note that over the past 6 quarters, there has been a slight gradual decline in self-reported enjoyment with the in-store shopping experience.

And here’s some color from our monthly tracker

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If you are not a client and are interested in learning more about our survey data, email [email protected] or call 914-630-0512

Over the past year, we’ve been asked by clients to track how consumers view the integration of Reels on Instagram. This has become an especially notable topic over the past few months with talks of a full-scale TikTok ban in the U.S. In our latest Social Media Survey to domestic consumers, we dug deep on this topic and gained some valuable insights into the minds of social media users. Sharing a few notable insights from the survey below.

TikTok Ban:
On net, consumers in the U.S. are supportive of a TikTok ban. Daily TikTok users are the only cohort to strongly oppose a ban.

TikTok vs. Reels:
The share of TikTok and Instagram users who would delete TikTok if forced to choose between the two has grown over time. Instagram reels familiarity, engagement, and sentiment KPIs have improved sequentially.

Usage Trends & Demographics:
In the event of a ban, TikTok users continue to indicate that they would increase their usage of Instagram and YouTube. Though TikTok users don’t call Snapchat a beneficiary nearly as often as other social media platforms, it is worth noting that Snapchat users are the most likely userbase to also be on TikTok.

If you are a client, login to view the full report (bespokeintel.com/login).

If you are not a client and are interested in hearing more about our social media data, email [email protected].

Since January, Tesla has implemented price cuts on their vehicles on five separate occasions. Consumers have shown a broadly favorable view towards these price cuts, though we should note that some existing Tesla owners had complaints about the price cuts harming the resale value of their vehicle.

Among respondents who expressed that they were interested in purchasing a Tesla at some point in the future, there has been a steady shift over the past two years in the catalyst for why they wanted a Tesla. Sentiment has shifted from consumers wanting one because it is an electric vehicle, to wanting one because they like the brand and look of the vehicle.

We go much deeper into auto and EV trends in the full report. If you’re a client log in at bespokeintel.com/login to view it. If you are not a client but are interested in viewing the full report, email [email protected]

We saw that food delivery usage surged during the pandemic. In 2022, however, ordering frequency softened a bit compared to pandemic highs. In the past 1-2 quarters, self-reported usage has bounced back a bit.

Throughout the history of the survey, we’ve also tracked competitive dynamics among food delivery platforms. We see that DoorDash has more market share than Uber Eats, and has been a disruptive gainer throughout the history of our survey.

However, among those who use both DoorDash and Uber Eats, consumers are evenly divided in which they prefer more.

We dig in even deeper and have answers as to why consumers choose certain food delivery platforms over others as well. If you’re a client log in at bespokeintel.com/login to view the whole report. If you are not a client but are interested in viewing the report, email [email protected]

Back in March, Spotify unveiled a new interface for the home screen on their mobile app. This new interface is intended to help users discover new music and connect with artists on a deeper level, and resembles the feeds of social media sites like TikTok and Instagram. In the latest wave of our audio streaming survey to consumers, we asked how users felt about the app’s latest redesign…

Spotify users stated that they held a very positive opinion of the new home screen.

In addition to the new interface, Spotify has also added a new personal AI DJ to their platform. This feature acts as a DJ, personalizing user’s listening experiences and talking to them as if it were a real DJ. We asked users their thoughts on this as well. Some color below…

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If you are not a client and are interested in hearing more about our SPOT data, email [email protected].

Throughout 2023 Q1 and Q2 we’ve been asked to investigate the rapidly growing Temu app and its impact on the eCommerce and Retail spaces. Investors fear that the platform will be disruptive in stealing market share from established companies, and wanted us to get some color from the perspective of the consumer. Here’s some of that color…

NPS varies a ton by engagement frequency. Regular shoppers give it an extremely high NPS of 77, whereas one time shoppers give it an NPS of -26…

While consumers feel shipping speed and quality could improve, they love the platform for the pricing / value…

Temu customers who shop the platform regularly are very likely to say that it is replacing spending that would typically go to other stores/apps/sites…

If you are a client, login to view the full report (bespokeintel.com/login).

If you are not a client and are interested in hearing more about our Temu data, email [email protected].

User Engagements:

Consumers have been gradually adopting BNPL services. Feedback toward BNPL names has remained positive, with an increasing percentage of the population engaging and a decreasing percentage of users telling us they are behind on payments.

Use Cases:

The ability to manage budgets was cited as a top reason for why users have turned to BNPL services. 61.9% of respondents noted that they use BNPL services to manage cash flows.

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If you are not a client and want to get smarter on BNPL, email [email protected].