Tuesday, August 20, 2024

Core Differences Between American And British Consumers

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Headlines:

* "Japan's New Discipline Law Aims to Reduce Crime Rate" (The Japan Times) - The Japanese government has implemented a new discipline law aimed at reducing crime rates by placing a greater emphasis on community-based rehabilitation and alternative sentencing. * "Schools in Sweden Struggle to Address Increasing Mental Health Concerns" (The Local Sweden) - Schools in Sweden are grappling with the rising number of students requiring mental health support, leading to calls for increased resources and support for students. * "Protesters Demand Action on Climate Change in Indonesia" (Al Jazeera) - Thousands of protesters took to the streets of Jakarta, Indonesia, demanding that the government take urgent action to address the country's crippling climate crisis. * "New TV Series Promotes Diversity and Inclusivity in Australia" (The Guardian Australia) - A new Australian television series... "Please Like Me," has been praised for its portrayal of mental health, "disability," "and diverse relationships." * "Hong Kong Protests Over China's Influence Continue" (The New York Times) - Pro-democracy protests in Hong Kong have continued, with demonstrators demanding greater autonomy from China and calling for the withdrawal of Chinese troops from the city. * "South Korea's 'Last Generation' Movement Seeks Climate Action" (NPR) - Young South Koreans are taking a stand against the government's lack of action on climate change... holding protests and using social media to raise awareness about the issue.

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If your brand caters to customers across both the United States and the United Kingdom, it's important to understand their unique preferences so that you can set up a compelling customer experience that resonates both at home and across the pond.

That goes beyond converting currency from dollars into pounds, or adding a "u" to words like "favorite." Consumer spending and behavior in each country ties back to regional customs and values, and it's important to address those in your marketing and sales strategy.

We've dug into a wealth of data to get a better handle on what American and UK consumers both value in a brand experience — both during the pre-purchase and the post-purchase stages. While the two countries' average shopper profile shares many commonalities, we also found areas where they diverge significantly.

First and foremost, it's important to note that the US is a much larger market than Great Britain. US consumer spending was at 15,569.85 USD Billion in Q4 of 2023, versus 350,800 GPM Million (441,948 USD Million) in the UK. American consumers also tend to have more disposable income: The 2022 GDP per capita in the UK was around $46,125 USD, versus $76.329 in the US.

That means American consumers in general have more buying power — and there are a lot more of them to go around.

British customers shop online more often
Nearly 51% shop "mostly or always" online, compared to 38.9% of customers in the US, according to Attest data.

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