<?xml version="1.0" encoding="UTF-8"?><rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:wfw="http://wellformedweb.org/CommentAPI/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
	xmlns:slash="http://purl.org/rss/1.0/modules/slash/"
	>

<channel>
	<title>Research | Attest Blog</title>
	<atom:link href="https://www.askattest.com/author/jacobbarker/feed" rel="self" type="application/rss+xml" />
	<link>https://www.askattest.com/author/jacobbarker</link>
	<description>Consumer Research Made Simple</description>
	<lastBuildDate>Wed, 17 Sep 2025 13:15:54 +0000</lastBuildDate>
	<language>en-US</language>
	<sy:updatePeriod>
	hourly	</sy:updatePeriod>
	<sy:updateFrequency>
	1	</sy:updateFrequency>
	<generator>https://wordpress.org/?v=6.8.2</generator>
	<item>
		<title>Tap or Cap? What Consumers Really Think About Removing the £100 Contactless Limit</title>
		<link>https://www.askattest.com/blog/research/tap-or-cap-what-consumers-really-think-about-removing-the-100-contactless-limit</link>
		
		<dc:creator><![CDATA[Jacob Barker]]></dc:creator>
		<pubDate>Wed, 17 Sep 2025 13:15:21 +0000</pubDate>
				<category><![CDATA[Research]]></category>
		<guid isPermaLink="false">https://www.askattest.com/?p=33968</guid>

					<description><![CDATA[<p>As the FCA proposes removing the £100 cap on contactless card payments, UK consumers are split on the change – but largely in favour of personal choice and better security controls.</p>
<p>The post <a href="https://www.askattest.com/blog/research/tap-or-cap-what-consumers-really-think-about-removing-the-100-contactless-limit">Tap or Cap? What Consumers Really Think About Removing the £100 Contactless Limit</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>Contactless payments have revolutionised how Brits pay for everyday purchases. From groceries to dining out, tapping a card or phone is now second nature for millions. But with the Financial Conduct Authority (FCA) proposing a radical change &#8211; allowing banks and card providers to remove the £100 cap on contactless card payments or set their own limits &#8211; consumers are being asked to weigh the convenience of frictionless spending against the risks of theft and loss of control.</p>



<p>We <a href="https://dashboard.askattest.com/survey/5U82ET2V588JT8A/results/analysis">surveyed 500 UK adults</a> to understand their views on this potential change, including how often they use contactless, how secure they feel, and what controls they&#8217;d like to see in a future without caps.</p>



<h2 class="wp-block-heading" id="h-quick-summary"><strong>Quick Summary</strong></h2>



<ul class="wp-block-list has-light-background-color has-background">
<li>77% of UK consumers use contactless card payments at least weekly<br></li>



<li>Only 45% were aware of the FCA&#8217;s proposal to remove the £100 limit<br></li>



<li>53% feel positive about removing the limit, while just 20% are opposed<br></li>



<li>The most popular option (51%) is for individuals to set their own limit<br></li>



<li>61% worry cards would become more valuable to steal without a limit<br></li>



<li>Preferred safeguards include setting personal limits (50%), receiving instant notifications (49%), and requiring extra authentication (49%)<br></li>
</ul>



<h2 class="wp-block-heading" id="h-contactless-is-the-new-normal"><strong>Contactless is the new normal</strong></h2>



<p>Contactless payments have moved from novelty to necessity in record time. Today, 77% of UK consumers use contactless at least weekly, with 30% using it daily. The most common purchases made via contactless are groceries (86%) and dining out (73%), clearly signalling that it&#8217;s firmly embedded in everyday routines.</p>



<p>The rise of mobile wallets has further accelerated the shift to contactless. With 75% of respondents using services like Apple Pay or Google Pay, smartphone wallets are now as mainstream as credit cards, which are held by 65% of respondents. Among younger consumers, smartphone wallets have overtaken debit cards as the most-used payment method.&nbsp;</p>



<p>Currently, there’s no upper payment limit for mobile wallets &#8211; you can make payments above £100 without needing to enter a PIN. However, device payments are typically protected by biometric authentication (such as fingerprint or facial recognition), reducing the risk involved.&nbsp;&nbsp;</p>



<figure class="wp-block-image size-large is-resized"><img fetchpriority="high" decoding="async" width="1513" height="1013" src="https://www.askattest.com/wp-content/uploads/2025/09/how-often-uk-consumers-make-contactless-card-payments-1024x686.png" alt="" class="wp-image-33970" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/09/how-often-uk-consumers-make-contactless-card-payments-1024x686.png 1024w, https://www.askattest.com/wp-content/uploads/2025/09/how-often-uk-consumers-make-contactless-card-payments-300x201.png 300w, https://www.askattest.com/wp-content/uploads/2025/09/how-often-uk-consumers-make-contactless-card-payments-768x514.png 768w, https://www.askattest.com/wp-content/uploads/2025/09/how-often-uk-consumers-make-contactless-card-payments.png 1513w" sizes="(max-width: 1513px) 100vw, 1513px" /></figure>



<h2 class="wp-block-heading" id="h-support-for-change-but-with-conditions"><strong>Support for change &#8211; but with conditions</strong></h2>



<p>The majority of consumers (64%) are aware of the existing £100 limit on contactless card payments, but only 45% of respondents to our survey had heard about the FCA’s plan to scrap it. While knowledge of the proposed changes is limited, sentiment is generally positive: 53% of consumers feel good about the potential removal of the £100 cap (27% somewhat positive, 26% very positive), this is driven by feelings of greater convenience, speed, and flexibility when they are shopping. Just 20% are against it. However, this support is not without caveats.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" width="1605" height="943" src="https://www.askattest.com/wp-content/uploads/2025/09/perceived-benefits-of-removing-contactless-limit-1024x602.png" alt="" class="wp-image-33972" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/09/perceived-benefits-of-removing-contactless-limit-1024x602.png 1024w, https://www.askattest.com/wp-content/uploads/2025/09/perceived-benefits-of-removing-contactless-limit-300x176.png 300w, https://www.askattest.com/wp-content/uploads/2025/09/perceived-benefits-of-removing-contactless-limit-768x451.png 768w, https://www.askattest.com/wp-content/uploads/2025/09/perceived-benefits-of-removing-contactless-limit-1536x902.png 1536w, https://www.askattest.com/wp-content/uploads/2025/09/perceived-benefits-of-removing-contactless-limit.png 1605w" sizes="(max-width: 1605px) 100vw, 1605px" /></figure></div>


<p>When asked what they&#8217;d prefer, most consumers (51%) said they&#8217;d like to set their own transaction limit. Only 33% want to keep the £100 limit in place. Importantly, support for personalisation cuts across all age and income groups, though it’s most popular among younger adults (58% of 18-30 year olds).</p>



<p>Still, security is top of mind. 61% of consumers are concerned that cards would become more valuable to steal if limits are removed, while 40% worry about overspending. To address this, half want to set per-transaction limits, 49% want instant notifications when a contactless payment is made, and another 49% want PIN or biometric authentication for larger purchases.</p>



<p>Notably, only 23% favour daily or weekly spending caps, suggesting consumers prefer targeted, flexible security over blanket restrictions.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" width="1535" height="944" src="https://www.askattest.com/wp-content/uploads/2025/09/controls-consumers-want-from-banks-for-contactless-payments-1024x630.png" alt="" class="wp-image-33981" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/09/controls-consumers-want-from-banks-for-contactless-payments-1024x630.png 1024w, https://www.askattest.com/wp-content/uploads/2025/09/controls-consumers-want-from-banks-for-contactless-payments-300x184.png 300w, https://www.askattest.com/wp-content/uploads/2025/09/controls-consumers-want-from-banks-for-contactless-payments-768x472.png 768w, https://www.askattest.com/wp-content/uploads/2025/09/controls-consumers-want-from-banks-for-contactless-payments.png 1535w" sizes="(max-width: 1535px) 100vw, 1535px" /></figure></div>


<h2 class="wp-block-heading" id="h-attitudes-vary-by-age-gender-and-income"><strong>Attitudes vary by age, gender and income</strong></h2>



<p>Support for removing the limit is far stronger among younger consumers. Just over 65% of 18-30 year olds are positive about the change, compared to just 37% of those aged 50-67. Older adults are more than twice as likely to have negative feelings about the change (29% vs 11%), largely due to theft concerns.</p>



<p>Despite using contactless more often, younger people are also less aware of the current £100 limit and proposed changes. Only 47% of 18-30s correctly identified the limit, compared to 75% of those aged 50-67.</p>



<p>There are also clear gender differences. Men are more likely to be aware of the FCA proposal (49% vs 42% for women) and are slightly more in favour of removing the limit (55% positive vs 50%). Men are also more likely to favour customisable security features such as setting personal limits (56% vs 43%).</p>



<p>Income plays a role, too. High earners (£75k+) are more likely to be positive about removing the cap: 47% say they would feel ‘very positive’ about it, versus only 19% of those with a household income below £35k. Lower-income respondents are more concerned about overspending and more likely to prefer keeping the current limit in place.</p>



<figure class="wp-block-image size-large is-resized"><img decoding="async" width="1580" height="953" src="https://www.askattest.com/wp-content/uploads/2025/09/preferences-for-contactless-limits-by-age-1024x618.png" alt="" class="wp-image-33974" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/09/preferences-for-contactless-limits-by-age-1024x618.png 1024w, https://www.askattest.com/wp-content/uploads/2025/09/preferences-for-contactless-limits-by-age-300x181.png 300w, https://www.askattest.com/wp-content/uploads/2025/09/preferences-for-contactless-limits-by-age-768x463.png 768w, https://www.askattest.com/wp-content/uploads/2025/09/preferences-for-contactless-limits-by-age-1536x926.png 1536w, https://www.askattest.com/wp-content/uploads/2025/09/preferences-for-contactless-limits-by-age.png 1580w" sizes="(max-width: 1580px) 100vw, 1580px" /></figure>



<h2 class="wp-block-heading" id="h-what-this-means-for-financial-services-brands"><strong>What this means for financial services brands</strong></h2>



<p>The future of contactless isn’t just about convenience, it’s also about control. Consumers are comfortable tapping to pay, but they want the freedom to define how that works for them. Financial services brands that offer customisable limits, real-time alerts, and secure authentication options will be able to strike the right balance.</p>



<p>Awareness campaigns will also be critical. With nearly half of consumers unaware of such a significant regulatory proposal, brands have an opportunity to educate their customers and position themselves as transparent, consumer-first providers.</p>



<p>Crucially, 56% of consumers believe banks are ultimately responsible for preventing fraud on contactless purchases, and 53% say the same of card providers like Visa and Mastercard. This underscores the need for brands to take a proactive role in fraud prevention and clearly communicate what protections are in place.</p>



<p>Ultimately, contactless is only going to become more prevalent, and with the right tools in place, consumers are ready to tap into the next phase of digital payments.</p>
<p>The post <a href="https://www.askattest.com/blog/research/tap-or-cap-what-consumers-really-think-about-removing-the-100-contactless-limit">Tap or Cap? What Consumers Really Think About Removing the £100 Contactless Limit</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>The savings knowledge gap &#8211; and how finserve brands can help close it</title>
		<link>https://www.askattest.com/blog/research/the-savings-knowledge-gap-and-how-finserve-brands-can-help-close-it</link>
		
		<dc:creator><![CDATA[Jacob Barker]]></dc:creator>
		<pubDate>Wed, 13 Aug 2025 15:28:45 +0000</pubDate>
				<category><![CDATA[Research]]></category>
		<guid isPermaLink="false">https://www.askattest.com/?p=33752</guid>

					<description><![CDATA[<p>New research uncovers a striking gap between what consumers think they know about savings products and what they actually understand. Learn how financial services brands can boost financial literacy and product uptake.</p>
<p>The post <a href="https://www.askattest.com/blog/research/the-savings-knowledge-gap-and-how-finserve-brands-can-help-close-it">The savings knowledge gap &#8211; and how finserve brands can help close it</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>How well do consumers really understand savings products? From traditional savings accounts to ISAs and bonds, there are plenty of tools out there to help people grow their money &#8211; yet many remain unsure about what’s available and how it all works.</p>



<p>In a recent survey conducted using the Attest platform, we asked 2,000 US and UK adults how well informed they felt about savings products, and then put their knowledge to the test. The results reveal a significant gap between consumers’ perceived understanding, and their actual knowledge of savings products.&nbsp;&nbsp;</p>



<p>This knowledge gap is an opportunity for finserve brands to educate consumers about things like tax advantages, savings limits, interest rates, and returns. A better understanding could lead to a higher uptake of savings products, especially the lesser-known ones.&nbsp;</p>



<h2 class="wp-block-heading" id="h-quick-summary">Quick summary</h2>



<ul class="wp-block-list has-light-background-color has-background">
<li>50% of US consumers and 54.5% of UK consumers believe they are well informed about savings products.</li>



<li>Most cannot identify the best and worst products for returns.</li>



<li>5 in 10 Americans and 4 in 10 Brits can’t correctly calculate interest.</li>



<li>Only 35% of Brits know the annual £20,000 savings limit for ISAs.</li>



<li>Consumers in both markets are most likely to have a traditional savings account, despite offering the lowest interest rates.</li>
</ul>


<div class="floating-menu">
    <div class="floating-menu_wrapper">
        <ul>
                                                                <li class="active"><a href="#h-us-results">US Results</a></li>
                                                                                                <li class=""><a href="#h-uk-results">UK Results</a></li>
                                                    </ul>
    </div>
</div> 



<h2 class="wp-block-heading" id="h-us-results">US results</h2>



<h3 class="wp-block-heading" id="h-most-americans-are-familiar-with-traditional-savings-but-few-go-beyond"><strong><strong>Most Americans are familiar with traditional savings &#8211; but few go beyond</strong></strong></h3>



<p>The first thing the data highlights is a big discrepancy between awareness of savings products and likelihood to be using them. Traditional savings accounts were the most recognised among US respondents (77%), while Certificate of Deposit (CD) and High Yield Savings Accounts (HYSA) also both enjoy relatively good awareness (61% and 54% respectively).</p>



<p>Just over half of the respondents were aware of Money Market Accounts (MMA), but awareness dropped off for bonds. Only 38% had heard of Series E or I U.S. savings bonds, while 45% had heard of municipal bonds. Cash management accounts had the lowest awareness, at 34% [<a href="https://dashboard.askattest.com/survey/4X9H3HGF7FPBEWB/results/overview">view US results dashboard</a>].</p>



<p>When it comes to the actual uptake of savings products among US consumers, the figures are significantly lower. Behind the traditional savings account, which 66% of Americans have, less than a quarter have a HYSA or CD. Only around 16% have an MMA or a cash management account, and around 11% have bonds. This suggests that barriers to entry &#8211; whether logistical, educational or behavioral &#8211; remain significant.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" width="1515" height="889" src="https://www.askattest.com/wp-content/uploads/2025/08/usage-of-savings-products-us-1024x601.png" alt="" class="wp-image-33753" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/08/usage-of-savings-products-us-1024x601.png 1024w, https://www.askattest.com/wp-content/uploads/2025/08/usage-of-savings-products-us-300x176.png 300w, https://www.askattest.com/wp-content/uploads/2025/08/usage-of-savings-products-us-768x451.png 768w, https://www.askattest.com/wp-content/uploads/2025/08/usage-of-savings-products-us.png 1515w" sizes="(max-width: 1515px) 100vw, 1515px" /></figure></div>


<h3 class="wp-block-heading" id="h-consumers-wrongly-consider-themselves-well-informed-about-savings-products"><strong><strong>Consumers (wrongly) consider themselves well informed about savings products</strong></strong></h3>



<p>One challenge finserve brands may face in educating consumers about savings products is that they already consider themselves pretty well informed. Overall, 50% of consumers said they are well informed about what’s available to them to help grow their money (although only 15% said they are “very well informed”). </p>



<p>Less than a quarter of respondents said they were poorly informed on savings products, but 27% did admit to being somewhere in the middle when it comes to their knowledge.</p>



<p>Despite this self-confidence, when we asked respondents to identify the savings products with the highest and lowest Annual Percentage Yield (APY), a lack of understanding became apparent. For example, only 21.5% identified Certificate of Deposits as offering a high APY when, in reality, they yield some of the highest fixed rates, typically in the 4.5%–5% APY range.</p>



<p>Meanwhile, although half of respondents correctly identified traditional savings accounts as offering the lowest APY, 13% thought they provided the <em>highest</em>. Only 13% thought municipal bonds offered a high rate of return, however, top-rated 30-year municipal bonds are yielding about 4.56%, and are tax-exempt federally making a tax-equivalent yield above 7% possible.&nbsp;</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" width="1517" height="851" src="https://www.askattest.com/wp-content/uploads/2025/08/perceptions-of-highest-yielding-savings-products-us-1024x574.png" alt="" class="wp-image-33755" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/08/perceptions-of-highest-yielding-savings-products-us-1024x574.png 1024w, https://www.askattest.com/wp-content/uploads/2025/08/perceptions-of-highest-yielding-savings-products-us-300x168.png 300w, https://www.askattest.com/wp-content/uploads/2025/08/perceptions-of-highest-yielding-savings-products-us-768x431.png 768w, https://www.askattest.com/wp-content/uploads/2025/08/perceptions-of-highest-yielding-savings-products-us.png 1517w" sizes="(max-width: 1517px) 100vw, 1517px" /></figure></div>


<h3 class="wp-block-heading" id="h-confusion-around-how-interest-rates-work"><strong><strong><strong>Confusion around how interest rates work</strong></strong></strong></h3>



<p>A lack of numeracy skills among the American public may explain the continued reliance on low-interest savings accounts. Many big-name banks offer virtually no interest &#8211; for instance, Bank of America’s Advantage Savings account pays just 0.01% APY, but but basic savings accounts remain the most popular savings vehicle. </p>



<p>Our data shows the problem is that many people simply don’t understand how interest rates work. When we asked them to calculate how much interest they would earn in a year if they deposited $1,000 at a fixed annual interest rate of 3%, just over half correctly answered $30.&nbsp;</p>



<p>Nearly 16% of respondents said $300, while around 9% answered $3 and $33. Only 15% admitted they didn’t know how to calculate interest. These results should serve as a reminder to finserve brands that financial literacy isn’t just about access to information, but the ability to apply it. </p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" width="1502" height="921" src="https://www.askattest.com/wp-content/uploads/2025/08/5-in-10-americans-cant-calculate-interest-1024x628.png" alt="" class="wp-image-33757" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/08/5-in-10-americans-cant-calculate-interest-1024x628.png 1024w, https://www.askattest.com/wp-content/uploads/2025/08/5-in-10-americans-cant-calculate-interest-300x184.png 300w, https://www.askattest.com/wp-content/uploads/2025/08/5-in-10-americans-cant-calculate-interest-768x471.png 768w, https://www.askattest.com/wp-content/uploads/2025/08/5-in-10-americans-cant-calculate-interest.png 1502w" sizes="(max-width: 1502px) 100vw, 1502px" /></figure></div>


<div class="content-cta-banner-new content-cta-banner-new--theme-primary-light content-cta-banner-new--type-other" data-content-cta-banner="true"><div class="grid"><div class="col col--1/2@md" data-content-cta-banner-col-left="true"><div class="content-cta-banner-new__image-wrapper content-cta-banner-new--type-other__image-wrapper"><img decoding="async" class="content-cta-banner-new__image content-cta-banner-new--type-other__image" src="https://www.askattest.com/wp-content/uploads/2025/04/US-Spending-Trends-Report-2025_landscape-cover.png" /></div></div><div class="col col--1/2@md" data-content-cta-banner-col-right="true"><div class="content-cta-banner-new__content"><p class="h3 content-cta-banner-new__title">2025 US Spending Trends Report</p><p class="p content-cta-banner-new__text" data-content-cta-banner-text="true">Get a complete picture of US consumer spending health right now – from disposable income and purchase intent, to debt, savings, and credit usage.</p><a class="button button--large content-cta-banner-new__button" rel="noopener noreferrer" target="_blank" href="https://www.askattest.com/our-research/2025-us-spending-trends-report" data-content-cta-banner-button="true">Download now!</a></div></div></div><button class="content-cta-banner-new__close-button" data-content-cta-banner-close-button="true"><img decoding="async" width="32" height="32" class="content-cta-banner-new__close-icon" alt="Close banner" src="/wp-content/themes/attest/images/icons/icon-close--white.svg" /></button></div>



<h2 class="wp-block-heading" id="h-uk-results">UK results</h2>



<h3 class="wp-block-heading" id="h-ownership-of-savings-products-lags-behind-awareness"><strong><strong>Ownership of savings products lags behind awareness</strong></strong></h3>



<p>British consumers have reasonably high awareness of the different savings products on the market but when it comes to actual ownership, the figures are much lower. For example, while 75% of respondents had heard of a Cash ISA (making it the product with the highest overall awareness), a lesser 47% of people have one [<a href="https://dashboard.askattest.com/survey/HNSS78XGNRAGKX5/results/overview">view UK results dashboard</a>].&nbsp;</p>



<p>Likewise, 60% of the respondents had heard of Premium Bonds (NS&amp;I), yet only 24% have them. And while 55% are aware of Lifetime ISAs (LISAs), a tiny 13.5% of consumers use them. This suggests that while awareness of financial tools may be pretty high, finserve brands need to do more to translate that knowledge into action.</p>



<p>Meanwhile, there’s an opportunity to promote products that are less well known among UK consumers, including the Help to Save account for people receiving Universal Credit or Working Tax Credit (recognised by 33%), and the Innovative Finance ISA, which allows people to invest in peer-to-peer lending or crowdfunding debt-based investments (17%).&nbsp;</p>



<p>Both of these products have a small uptake (12% and 8% respectively), showing large scope for growth &#8211; especially the Help to Save account. Following a change in eligibility criteria introduced in April 2025, approximately 3 million people are now eligible to open a Help to Save account.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" width="1526" height="935" src="https://www.askattest.com/wp-content/uploads/2025/08/ownership-of-savings-products-uk-1024x627.png" alt="" class="wp-image-33758" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/08/ownership-of-savings-products-uk-1024x627.png 1024w, https://www.askattest.com/wp-content/uploads/2025/08/ownership-of-savings-products-uk-300x184.png 300w, https://www.askattest.com/wp-content/uploads/2025/08/ownership-of-savings-products-uk-768x471.png 768w, https://www.askattest.com/wp-content/uploads/2025/08/ownership-of-savings-products-uk.png 1526w" sizes="(max-width: 1526px) 100vw, 1526px" /></figure></div>


<h3 class="wp-block-heading" id="h-awareness-doesn-t-equal-understanding"><strong><strong>Awareness doesn’t equal understanding</strong></strong></h3>



<p>Our research shows that while a large percentage of consumers have heard of various types of ISAs,&nbsp; knowledge about them is much lower. Only 35% of Brits could correctly identify the annual £20,000 savings limit for ISAs.</p>



<p>While 30% of respondents admitted they didn’t know how much they could save into an ISA each year, 15% incorrectly answered £9,000, 11% thought it was £15,000, 6% said £18,000, and 5% answered £24,000, highlighting the scale of the confusion.&nbsp;</p>



<p>This is despite recent media coverage of Chancellor Rachel Reeves’ proposal to&nbsp;lower the annual Cash ISA limit to £4,000-£5,000. Her aim is to encourage a shift toward Stocks &amp; Shares ISAs, but our data suggests the government will need to launch a higher profile education campaign to achieve the goal.</p>



<p>Although 68% of respondents in our survey were aware of Stocks and Shares ISAs, only 30% have one. This suggests they are unaware that Stocks and Shares ISAs can offer much higher returns than Cash ISAs. According to the Guardian, investing £10,000 in a FTSE All-Share tracker over ten years could grow to nearly £18,000, versus around £11,500 in a Cash ISA.&nbsp;</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" width="1499" height="930" src="https://www.askattest.com/wp-content/uploads/2025/08/65-of-brits-dont-know-isa-saving-limit-1024x635.png" alt="" class="wp-image-33759" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/08/65-of-brits-dont-know-isa-saving-limit-1024x635.png 1024w, https://www.askattest.com/wp-content/uploads/2025/08/65-of-brits-dont-know-isa-saving-limit-300x186.png 300w, https://www.askattest.com/wp-content/uploads/2025/08/65-of-brits-dont-know-isa-saving-limit-768x476.png 768w, https://www.askattest.com/wp-content/uploads/2025/08/65-of-brits-dont-know-isa-saving-limit.png 1499w" sizes="(max-width: 1499px) 100vw, 1499px" /></figure></div>


<h3 class="wp-block-heading" id="h-4-in-10-brits-failed-a-basic-interest-rate-calculation"><strong><strong>4 in 10 Brits failed a basic interest rate calculation</strong></strong></h3>



<p>Core to any education campaign should be explaining how interest rates are calculated, since Attest’s data uncovered a notable lack of understanding. We asked respondents to calculate how much they would earn if they invested £1,000 at a 3% annual interest rate.&nbsp;</p>



<p>While the correct answer &#8211; £30 &#8211; was selected by 62% of people, 14% thought it was £300, 8% said £33, and 6% answered £3. A further 10% said they didn’t know. These responses suggest that understanding of even basic financial maths remains limited among a significant proportion of the population.</p>



<p>The inability to calculate interest rate is no doubt contributing to confusion among UK consumers about which financial products offer the best returns. Only 10% of Brits think Regular Saver Accounts/Building Society Monthly Savers provide high interest, yet these accounts offer some of the best fixed returns &#8211; up to 7.5% AER for limited monthly deposits.</p>



<p>Similarly, only 13% of respondents think NS&amp;I fixed-rate bonds are among the best products for returns, but these provide a solid 4.18% AER (slightly below the top market rates but government-backed for security). Despite these clear misconceptions, 54.5% of consumers believe they are well informed about savings products (only 20% think they are poorly informed).</p>



<p>Meanwhile, although people are most likely to rate traditional savings accounts as offering the lowest rate of return, it remains the savings product they’re most likely to own (55%). With traditional easy‑access savings account AER currently standing at around 2.3%, millions of savers stand to benefit by moving to a different savings vehicle.&nbsp;</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" width="1502" height="939" src="https://www.askattest.com/wp-content/uploads/2025/08/perception-of-highest-yielding-savings-products-uk-1024x640.png" alt="" class="wp-image-33760" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/08/perception-of-highest-yielding-savings-products-uk-1024x640.png 1024w, https://www.askattest.com/wp-content/uploads/2025/08/perception-of-highest-yielding-savings-products-uk-300x188.png 300w, https://www.askattest.com/wp-content/uploads/2025/08/perception-of-highest-yielding-savings-products-uk-768x480.png 768w, https://www.askattest.com/wp-content/uploads/2025/08/perception-of-highest-yielding-savings-products-uk.png 1502w" sizes="(max-width: 1502px) 100vw, 1502px" /></figure></div>


<div class="content-cta-banner-new content-cta-banner-new--theme-green-light content-cta-banner-new--type-other" data-content-cta-banner="true"><div class="grid"><div class="col col--1/2@md" data-content-cta-banner-col-left="true"><div class="content-cta-banner-new__image-wrapper content-cta-banner-new--type-other__image-wrapper"><img decoding="async" class="content-cta-banner-new__image content-cta-banner-new--type-other__image" src="https://www.askattest.com/wp-content/uploads/2025/04/UK-Spending-Trends-Report-2025_landscape-cover.png" /></div></div><div class="col col--1/2@md" data-content-cta-banner-col-right="true"><div class="content-cta-banner-new__content"><p class="h3 content-cta-banner-new__title">2025 UK Spending Trends Report</p><p class="p content-cta-banner-new__text" data-content-cta-banner-text="true">Get a complete picture of UK consumer spending health right now – from disposable income and purchase intent, to debt, savings, and credit usage.</p><a class="button button--large content-cta-banner-new__button" rel="noopener noreferrer" target="_blank" href="https://www.askattest.com/our-research/2025-uk-spending-trends-report" data-content-cta-banner-button="true">Download now!</a></div></div></div><button class="content-cta-banner-new__close-button" data-content-cta-banner-close-button="true"><img decoding="async" width="32" height="32" class="content-cta-banner-new__close-icon" alt="Close banner" src="/wp-content/themes/attest/images/icons/icon-close--white.svg" /></button></div>



<h2 class="wp-block-heading"><strong>What this means for financial services brands</strong></h2>



<p>In both the UK and the US, financial services brands face a common challenge: bridging the gap between recognition and informed usage.</p>



<p>Consumers know the names of products, but often struggle to compare them or calculate returns. Messaging that focuses on rates or technical features may miss the mark if people don’t understand the fundamentals.</p>



<p>Brands that position themselves as educators and simplifiers, breaking down the what, why and how of savings, stand to drive adoption.</p>
<p>The post <a href="https://www.askattest.com/blog/research/the-savings-knowledge-gap-and-how-finserve-brands-can-help-close-it">The savings knowledge gap &#8211; and how finserve brands can help close it</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>What pension savers aren’t telling you</title>
		<link>https://www.askattest.com/blog/research/pension-saver-concerns-trends-2025</link>
		
		<dc:creator><![CDATA[Jacob Barker]]></dc:creator>
		<pubDate>Mon, 07 Jul 2025 10:59:09 +0000</pubDate>
				<category><![CDATA[Research]]></category>
		<guid isPermaLink="false">https://www.askattest.com/?p=33366</guid>

					<description><![CDATA[<p>Pension companies today are caught in a squeeze. People are more worried than ever about inflation eating into their retirement savings, but at the same time many aren’t sure how to set up or manage a pension.&#160; Across both the US and UK, affordability, a lack of knowledge and fears of government cutbacks are keeping (...)</p>
<p>The post <a href="https://www.askattest.com/blog/research/pension-saver-concerns-trends-2025">What pension savers aren’t telling you</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>Pension companies today are caught in a squeeze. People are more worried than ever about inflation eating into their retirement savings, but at the same time many aren’t sure how to set up or manage a pension.&nbsp;</p>



<p>Across both the US and UK, affordability, a lack of knowledge and fears of government cutbacks are keeping people from feeling secure about their future.</p>



<p>Our <a href="https://dashboard.askattest.com/survey/AEQ55T4HEFURX6U/results/overview?audience=361f9e39-7034-4bca-b380-61d774621fbe,7f13ef4b-2cb3-4921-a5c5-c435c55860ca" target="_blank" rel="noreferrer noopener">latest research</a> digs into what people really want from their pensions, what’s stopping them from saving and what they dream about for their retirement. </p>



<p>From inflation and performance concerns to the desire for personalised advice, these insights can help pension providers and their insights teams understand how to better connect with today’s cautious but hopeful savers.</p>



<h2 class="wp-block-heading" id="h-quick-pension-insights-summary">Quick pension insights summary</h2>



<p>Here’s a TL;DR rundown of the key findings from our research:</p>



<ul class="wp-block-list">
<li>In the US, 27% don’t have a pension at all; 41% have a workplace pension, 30% rely on Social Security and 21% have a private pension</li>



<li>43% of Americans worry most about inflation eroding their pension; 39% fear outliving their savings</li>



<li>50% of Americans would consider switching pension providers for better investment performance; 85% say personalised advice is important</li>



<li>In the UK, only 34% expect to rely on the state pension despite 80% qualifying for it; 51% have a workplace pension</li>



<li>49% of Brits are most worried about state pension cutbacks; 48% fear inflation</li>



<li>42% of Brits would switch providers for better performance; 89% want personalised pension advice</li>
</ul>


<div class="floating-menu">
    <div class="floating-menu_wrapper">
        <ul>
                                                                <li class="active"><a href="#h-us-pension-insights">US pension insights</a></li>
                                                                                                <li class=""><a href="#h-uk-pension-insights">UK pension insights</a></li>
                                                    </ul>
    </div>
</div> 



<h2 class="wp-block-heading" id="h-us-pension-insights">US pension insights</h2>



<h3 class="wp-block-heading" id="h-a-quarter-of-americans-don-t-have-a-pension">A quarter of Americans don’t have a pension</h3>



<p>Our research found that 27% of respondents in the US don’t have any pension. There are of course several reasons for this –&nbsp;low or irregular income, immigration status or lack of awareness being some.&nbsp;</p>



<p>Meanwhile, 30% said they do have Social Security, and 41% said they have a workplace pension arranged through their employer, with 14.5% also having a defined benefit/final salary pension. A further 21% have a private pension they arranged themselves.&nbsp;</p>



<h3 class="wp-block-heading" id="h-inflation-is-people-s-main-pension-concern">Inflation is people’s main pension concern</h3>



<p>A sizable 43% of Americans told us they’re most worried about inflation eroding the value of their pension –&nbsp;and this percentage is fairly consistent across the age groups.&nbsp;</p>



<p>Outliving savings came second overall – 39% chose this. Interestingly we see a particular spike for the 45–54 age group, with 47% stating this as a top key concern. This compares with just 32% of people aged 55–64.</p>



<p>Government/state pension cutbacks was chosen by 35% of our US respondents, with 30% choosing market volatility. And not getting enough advice was chosen by just 16% overall – but we see this rise significantly in the younger groups, with 27% of 18–24s and 23% of 25–34s worried about a lack of guidance.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1468" height="560" src="https://www.askattest.com/wp-content/uploads/2025/07/image-3-1024x391.png" alt="" class="wp-image-33375" srcset="https://www.askattest.com/wp-content/uploads/2025/07/image-3-1024x391.png 1024w, https://www.askattest.com/wp-content/uploads/2025/07/image-3-300x114.png 300w, https://www.askattest.com/wp-content/uploads/2025/07/image-3-768x293.png 768w, https://www.askattest.com/wp-content/uploads/2025/07/image-3.png 1468w" sizes="(max-width: 1468px) 100vw, 1468px" /></figure>



<h3 class="wp-block-heading" id="h-performance-lower-fees-and-more-flexibility-are-switching-drivers">Performance, lower fees and more flexibility are switching drivers</h3>



<p>When asked what might make people think about changing their private or workplace pension provider, the outcome was:</p>



<ul class="wp-block-list">
<li>Better investment performance – 50%</li>



<li>Lower fees – 38%</li>



<li>More flexible retirement income options – 38%</li>



<li>Better pensions guidance and advice – 28%</li>



<li>Easier online management – 24%</li>



<li>Better visibility on pension’s progress – 22%</li>



<li>Easy switching process – 18%</li>



<li>Better customer service – 17%</li>



<li>Ethical/sustainable investment choices – 16%</li>
</ul>



<p>And it seems that personalized pension advice or guidance should be a no-brainer for providers in 2025. A huge 85% of respondents told us it’s important to them, with just 13% saying it’s not important.</p>



<h3 class="wp-block-heading" id="h-affordability-and-knowledge-are-top-reasons-people-don-t-have-private-pensions">Affordability and knowledge are top reasons people don’t have private pensions</h3>



<p>A third of our US respondents told us that one of the main reasons they don’t currently have a private or workplace pension is that they can’t afford to save right now. We see this percentage rise to 36% for people aged 25–34 and to 38% for those aged 35–44.&nbsp;</p>



<p>The second highest overall response was that people don’t know enough about pensions to set one up –&nbsp;20.5% of the US population said this. We see a sizable uptick for the youngest group, with 36.5% of people aged 18–24 saying this, showing that education among even this youngest group is a key driver to get people saving.</p>



<h3 class="wp-block-heading" id="h-family-time-new-hobbies-and-traveling-are-top-of-the-retirement-wish-list">Family time, new hobbies and traveling are top of the retirement wish list</h3>



<p>Across all age groups, our research shows that people’s number one goal for retirement is to spend more time with their family. Almost three in five (59%) chose this.&nbsp;</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1432" height="826" src="https://www.askattest.com/wp-content/uploads/2025/07/image-2-1024x591.png" alt="" class="wp-image-33374" srcset="https://www.askattest.com/wp-content/uploads/2025/07/image-2-1024x591.png 1024w, https://www.askattest.com/wp-content/uploads/2025/07/image-2-300x173.png 300w, https://www.askattest.com/wp-content/uploads/2025/07/image-2-768x443.png 768w, https://www.askattest.com/wp-content/uploads/2025/07/image-2.png 1432w" sizes="(max-width: 1432px) 100vw, 1432px" /></figure>



<p>Taking up hobbies came second overall, with over half (51%) planning this. Traveling came a close third with 50% hoping to jet off when they retire.</p>



<p>And thinking about their main financial goal for retirement, covering basic living expenses is at the top –&nbsp;41% will prioritize this. 35% want to maintain their current lifestyle, while 12% are focused on leaving an inheritance – a percentage that drops to 4% for people aged 45–54.&nbsp;</p>



<div class="content-cta-banner-new content-cta-banner-new--theme-primary-light content-cta-banner-new--type-other" data-content-cta-banner="true"><div class="grid"><div class="col col--1/2@md" data-content-cta-banner-col-left="true"><div class="content-cta-banner-new__image-wrapper content-cta-banner-new--type-other__image-wrapper"><img decoding="async" class="content-cta-banner-new__image content-cta-banner-new--type-other__image" src="https://www.askattest.com/wp-content/uploads/2025/04/US-Spending-Trends-Report-2025_landscape-cover.png" /></div></div><div class="col col--1/2@md" data-content-cta-banner-col-right="true"><div class="content-cta-banner-new__content"><p class="h3 content-cta-banner-new__title">Get more US 2025 spending trends </p><p class="p content-cta-banner-new__text" data-content-cta-banner-text="true">Get a complete picture of US consumer spending health right now – from disposable income and purchase intent, to debt, savings, and credit usage.</p><a class="button button--large content-cta-banner-new__button" rel="noopener noreferrer" target="_blank" href="https://www.askattest.com/our-research/2025-us-spending-trends-report" data-content-cta-banner-button="true">Download now!</a></div></div></div><button class="content-cta-banner-new__close-button" data-content-cta-banner-close-button="true"><img decoding="async" width="32" height="32" class="content-cta-banner-new__close-icon" alt="Close banner" src="/wp-content/themes/attest/images/icons/icon-close--white.svg" /></button></div>



<h2 class="wp-block-heading" id="h-uk-pension-insights">UK pension insights</h2>



<h3 class="wp-block-heading" id="h-only-a-third-of-brits-expect-to-rely-on-their-state-pension">Only a third of Brits expect to rely on their state pension</h3>



<p>We asked our UK respondents which types of pension they have. Surprisingly only a third (34%) actively chose the state pension – particularly surprising when <a href="https://ifs.org.uk/publications/future-state-pension">80% of people</a> who reach pension age will receive the full state pension. This shows that there’s potentially a lot of education the government and financial institutions can do to help people understand what they’re entitled to.&nbsp;</p>



<p>A larger 51% of the population told us they currently have a workplace pension, with a further 28% saying they have a private pension they arranged themselves.&nbsp;</p>



<h3 class="wp-block-heading" id="h-government-cutbacks-worry-pension-holders-the-most">Government cutbacks worry pension-holders the most</h3>



<p>Almost half of our respondents (49%) told us what worries them the most about their pension is state pension cutbacks from the government. This percentage rises with each successive age group, with 59.5% of people aged 55–64 choosing this option.&nbsp;</p>



<p>Inflation is also a big worry, with 48% of people overall choosing this as a concern. A further 36% are concerned about outliving their savings, with 30% stating market volatility as a worry.&nbsp;</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1458" height="554" src="https://www.askattest.com/wp-content/uploads/2025/07/image-4-1024x389.png" alt="" class="wp-image-33376" srcset="https://www.askattest.com/wp-content/uploads/2025/07/image-4-1024x389.png 1024w, https://www.askattest.com/wp-content/uploads/2025/07/image-4-300x114.png 300w, https://www.askattest.com/wp-content/uploads/2025/07/image-4-768x292.png 768w, https://www.askattest.com/wp-content/uploads/2025/07/image-4.png 1458w" sizes="(max-width: 1458px) 100vw, 1458px" /></figure>



<h3 class="wp-block-heading" id="h-pension-switching-brits-want-better-investment-performance">Pension-switching Brits want better investment performance</h3>



<p>More than two fifths (42%) of our UK respondents said that better investment performance would make them think about changing their private or workplace pension provider – more than any other option:</p>



<ul class="wp-block-list">
<li>Better investment performance – 42%</li>



<li>Lower fees – 34.5%</li>



<li>More flexible retirement income options – 33%</li>



<li>Better visibility on pension’s progress – 31%</li>



<li>Better pensions guidance and advice – 30%</li>



<li>Easy switching process – 28%</li>



<li>Easier online management – 23%</li>



<li>Better customer service – 18%</li>



<li>Ethical/sustainable investment choices – 15%</li>
</ul>



<h3 class="wp-block-heading" id="h-nine-in-10-people-want-personalized-advice">Nine in 10 people want personalized advice</h3>



<p>Among our UK respondents, a sizable 89% think personalized pension advice and guidance is important.&nbsp;</p>



<p>There&#8217;s a particular appetite for advice in one age group. Of people aged 25–34, a huge 97% said it’s important to them. This gives providers some direction on who to aim guidance towards to gain traction.</p>



<p>Overall, just 2% of Brits told us that pension advice and guidance wasn’t important to them.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="1460" height="422" src="https://www.askattest.com/wp-content/uploads/2025/07/image-5-1024x296.png" alt="" class="wp-image-33377" srcset="https://www.askattest.com/wp-content/uploads/2025/07/image-5-1024x296.png 1024w, https://www.askattest.com/wp-content/uploads/2025/07/image-5-300x87.png 300w, https://www.askattest.com/wp-content/uploads/2025/07/image-5-768x222.png 768w, https://www.askattest.com/wp-content/uploads/2025/07/image-5.png 1460w" sizes="(max-width: 1460px) 100vw, 1460px" /></figure>



<h3 class="wp-block-heading" id="h-affordability-is-holding-people-back-from-private-pensions">Affordability is holding people back from private pensions</h3>



<p>Among those who don’t have a private or workplace pension, 40% told us a main reason was that they can’t afford to save right now.&nbsp;</p>



<p>Meanwhile 22% said they plan to start a pension in the future, but haven’t got around to it yet. And 14% said they simply don’t know enough about pensions to set one up – again showing the need for education on pensions and retirement planning.&nbsp;</p>



<h3 class="wp-block-heading" id="h-family-time-is-people-s-top-retirement-goal">Family time is people’s top retirement goal</h3>



<p>Three fifths (61%) of our UK respondents said they hope to spend more time with family when they retire. This interestingly drops slightly to 48% for people aged 45–54, and is highest for people aged 25–34, 73% of whom look forward to family time.&nbsp;</p>



<p>Traveling came out as the second most popular retirement goal – 55% hope to jet off. And 54% told us they hope to take up some new hobbies.&nbsp;</p>



<p>Thinking more financially, Brits’ top goal for retirement is to maintain their current lifestyle –&nbsp;41% chose this. And a third (33%) want to simply cover their basic living costs. Meanwhile 15% are thinking predominantly about leaving an inheritance to their loved ones.</p>



<p>Don&#8217;t forget – you can <a href="https://dashboard.askattest.com/survey/AEQ55T4HEFURX6U/results/overview?audience=361f9e39-7034-4bca-b380-61d774621fbe,7f13ef4b-2cb3-4921-a5c5-c435c55860cahttps://dashboard.askattest.com/survey/AEQ55T4HEFURX6U/results/overview?audience=361f9e39-7034-4bca-b380-61d774621fbe,7f13ef4b-2cb3-4921-a5c5-c435c55860ca" target="_blank" rel="noreferrer noopener">dig into the data for yourself</a> if you head over to our interactive dashboard.</p>



<div class="content-cta-banner-new content-cta-banner-new--theme-green-light content-cta-banner-new--type-other" data-content-cta-banner="true"><div class="grid"><div class="col col--1/2@md" data-content-cta-banner-col-left="true"><div class="content-cta-banner-new__image-wrapper content-cta-banner-new--type-other__image-wrapper"><img decoding="async" class="content-cta-banner-new__image content-cta-banner-new--type-other__image" src="https://www.askattest.com/wp-content/uploads/2025/04/UK-Spending-Trends-Report-2025_landscape-cover.png" /></div></div><div class="col col--1/2@md" data-content-cta-banner-col-right="true"><div class="content-cta-banner-new__content"><p class="h3 content-cta-banner-new__title">Get the latest UK 2025 spending trends </p><p class="p content-cta-banner-new__text" data-content-cta-banner-text="true">Get a complete picture of UK consumer spending health right now – from disposable income and purchase intent, to debt, savings, and credit usage.</p><a class="button button--large content-cta-banner-new__button" rel="noopener noreferrer" target="_blank" href="https://www.askattest.com/our-research/2025-uk-spending-trends-report" data-content-cta-banner-button="true">Download now!</a></div></div></div><button class="content-cta-banner-new__close-button" data-content-cta-banner-close-button="true"><img decoding="async" width="32" height="32" class="content-cta-banner-new__close-icon" alt="Close banner" src="/wp-content/themes/attest/images/icons/icon-close--white.svg" /></button></div>
<p>The post <a href="https://www.askattest.com/blog/research/pension-saver-concerns-trends-2025">What pension savers aren’t telling you</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>Cash is back: hard money sees a post-pandemic resurgence</title>
		<link>https://www.askattest.com/blog/research/cash-is-back-hard-money-sees-a-post-pandemic-resurgence</link>
		
		<dc:creator><![CDATA[Jacob Barker]]></dc:creator>
		<pubDate>Thu, 19 Jun 2025 09:25:00 +0000</pubDate>
				<category><![CDATA[Research]]></category>
		<guid isPermaLink="false">https://www.askattest.com/?p=33004</guid>

					<description><![CDATA[<p>Consumers aren’t ready for a cashless society just yet - we explore the reasons some people prefer cash, and attitudes to cash-free businesses. </p>
<p>The post <a href="https://www.askattest.com/blog/research/cash-is-back-hard-money-sees-a-post-pandemic-resurgence">Cash is back: hard money sees a post-pandemic resurgence</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>During the pandemic, some retailers began refusing cash on the basis that it posed a risk for catching COVID-19. Since then, there has been a trend towards cashless operations, with an increasing number of businesses going cash-free.&nbsp;</p>



<p>It’s no longer about hygiene, though. This trend is particularly noticeable in fast-casual restaurants, coffee shops, and retailers in transit locations (like train stations), where digital payments offer speed, convenience, and reduced security risks.</p>



<p>However, the shift away from cash has raised concerns about excluding unbanked or underbanked individuals, prompting calls for legislation to mandate cash acceptance. In the US, some cities and states &#8211; including New York City, San Francisco, Philadelphia, and New Jersey &#8211; have enacted laws requiring businesses to accept cash. In the UK, the government has not mandated cash acceptance, allowing businesses the discretion to choose their preferred payment methods.</p>



<p>To get consumers’ view on the importance of cash in society, and to find out how they typically use &#8211; or don’t use &#8211; it, we conducted a nationally representative survey of 1,200 people aged 18-67 in the UK and the US.&nbsp;</p>



<h2 class="wp-block-heading" id="h-quick-summary">Quick summary</h2>



<ul class="wp-block-list has-light-background-color has-background">
<li>23% of consumers in the UK and 30.5% in the US prefer to pay with cash given the option.</li>



<li>Core reasons for preferring cash include it providing protection from fraud and being viewed as more reliable.</li>



<li>34% of Brits and 32% of Americans are against businesses that do not accept cash.</li>



<li>38% of UK consumers and 42% of US consumers would welcome a cashless society. </li>



<li>Card and device payments are most popular overall but more than half of people in both markets worry about the reliability of digital payments.</li>
</ul>


<div class="floating-menu">
    <div class="floating-menu_wrapper">
        <ul>
                                                                <li class="active"><a href="#h-uk-results">UK Results</a></li>
                                                                                                <li class=""><a href="#h-us-results">US Results</a></li>
                                                    </ul>
    </div>
</div> 



<h2 class="wp-block-heading" id="h-uk-results">UK results</h2>



<h3 class="wp-block-heading" id="h-cash-has-regained-popularity"><strong><strong>Cash has regained popularity</strong></strong></h3>



<p>We <a href="https://www.askattest.com/blog/research/british-consumers-are-ready-to-embrace-a-cashless-future" target="_blank" rel="noreferrer noopener">last surveyed UK consumers about their use of cash in 2021</a>. Back then, only 16% of the population preferred to pay for things with cash. Today, that figure has risen to 23%. This resurgence is seen across all age groups, with the biggest uplift recorded among the over 50s, 28% of whom prefer cash (a +10 point increase) [<a href="https://dashboard.askattest.com/survey/3DSBGP3CWR8263J/results/overview?audience=2bd8bb1a-9c87-4eb9-817d-9c8db075d676">view UK dashboard</a>].</p>



<p>The reasons that consumers favour cash have also shifted: in 2021, the main reason was that it helped people to avoid overspending (49%). While this is still a major motivator for using cash in 2025 (51%), consumers primarily like hard money because they view it as “more reliable” (55% up from 41%). They’re also more likely to favour it because it “protects them from fraud” (47% up from 39%).&nbsp;</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" width="1897" height="998" src="https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-cash-by-age-UK-1024x539.png" alt="" class="wp-image-33010" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-cash-by-age-UK-1024x539.png 1024w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-cash-by-age-UK-300x158.png 300w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-cash-by-age-UK-768x404.png 768w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-cash-by-age-UK-1536x808.png 1536w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-cash-by-age-UK.png 1897w" sizes="(max-width: 1897px) 100vw, 1897px" /></figure></div>


<p>These views may be influenced by recent events including cyber attacks on UK high street stores like M&amp;S and Co-op, as well as the power outages in Spain and Portugal that led to businesses being unable to accept digital payments. The data finds that 59% of people worry about power cuts or hacking attacks causing digital payments to fail.</p>



<h3 class="wp-block-heading" id="h-more-british-consumers-are-carrying-cash"><strong><strong>More British consumers are carrying cash</strong></strong></h3>



<p>Brits are more likely to have cash in their wallets in 2025: 23% say they always carry cash &#8211; which is an increase of +6 points since 2021 &#8211; and a further 27% of people <em>usually</em> have cash on them. The percentage of people who don’t like paying cash has also declined: 41% prefer not to carry out transactions using cash, compared with 54% previously. </p>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p>34% of British consumers are against cash-free businesses</p>
</blockquote>



<p>So how do British consumers feel about businesses that don’t accept cash? Nearly 34% say they’re against cashless businesses, while 16% are in favour. But the majority (50%) are happy to leave it up to the business to decide. It’s worth noting, however, that opposition to cash-free businesses increases with age.</p>



<p>The amount of consumers who say they would welcome a cashless society has fallen by -5 points to 38%. Under 30s are the demographic most in favour of a world without cash: 26% strongly agree they would welcome it, versus 20% of 31-49-year-olds and just 8% of over 50s.&nbsp;&nbsp;</p>



<h3 class="wp-block-heading" id="h-digital-payments-still-rule"><strong><strong><strong>Digital payments still rule </strong></strong></strong></h3>



<p>Despite the resurgence in cash payments, the majority of UK consumers would opt to pay with either a card (50%) or device (26%). The popularity of device payments has increased by +8 points since 2021. They’re especially popular with the 18-30 age group, 40% of whom say it’s their favourite way to pay in-store.&nbsp;</p>



<p>Of those who prefer to pay with a card or device, the main reason for doing so is convenience: 73% say they find it a more convenient payment option (up from 63% previously). That’s probably because 40% of those who favour digital payments tend not to carry cash, although this has declined from 47% in 2021.</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" width="1907" height="1004" src="https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-digital-payments-by-age-UK-1024x539.png" alt="" class="wp-image-33011" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-digital-payments-by-age-UK-1024x539.png 1024w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-digital-payments-by-age-UK-300x158.png 300w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-digital-payments-by-age-UK-768x404.png 768w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-digital-payments-by-age-UK-1536x809.png 1536w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-digital-payments-by-age-UK.png 1907w" sizes="(max-width: 1907px) 100vw, 1907px" /></figure></div>


<p> Today, only 6% of people who prefer digital payments regard cash as unhygienic &#8211; that’s compared to 18% immediately post-pandemic.  </p>



<div class="content-cta-banner-new content-cta-banner-new--theme-green-light content-cta-banner-new--type-other" data-content-cta-banner="true"><div class="grid"><div class="col col--1/2@md" data-content-cta-banner-col-left="true"><div class="content-cta-banner-new__image-wrapper content-cta-banner-new--type-other__image-wrapper"><img decoding="async" class="content-cta-banner-new__image content-cta-banner-new--type-other__image" src="https://www.askattest.com/wp-content/uploads/2025/06/2025-UK-Media-Consumption-cover.png" /></div></div><div class="col col--1/2@md" data-content-cta-banner-col-right="true"><div class="content-cta-banner-new__content"><p class="h3 content-cta-banner-new__title">Get the latest UK media consumption data</p><p class="p content-cta-banner-new__text" data-content-cta-banner-text="true">The 8th annual edition covers television, audio, news, and social media, offering you a detailed breakdown of how Brits spend their time.</p><a class="button button--large content-cta-banner-new__button" rel="noopener noreferrer" target="_blank" href="https://www.askattest.com/our-research/2025-uk-media-consumption-report" data-content-cta-banner-button="true">Download now!</a></div></div></div><button class="content-cta-banner-new__close-button" data-content-cta-banner-close-button="true"><img decoding="async" width="32" height="32" class="content-cta-banner-new__close-icon" alt="Close banner" src="/wp-content/themes/attest/images/icons/icon-close--white.svg" /></button></div>



<h2 class="wp-block-heading" id="h-us-results">US results</h2>



<h3 class="wp-block-heading" id="h-three-in-10-americans-prefer-cash"><strong><strong>Three in 10 Americans prefer cash</strong></strong></h3>



<p>We don’t have historical data from the US to benchmark against, but today’s results show 30.5% of American consumers prefer to pay in cash if given the opportunity. This is a universal preference, with all age groups in agreement [<a href="https://dashboard.askattest.com/survey/3DSBGP3CWR8263J/results/overview?audience=b8b1f635-8b3e-4802-aea5-d26b2745c3d5">view US dashboard</a>].</p>



<p>However, different demographics have different reasons for favoring cash. Those aged 18-30 choose it because it prevents overspending (45%), while 31-49-year-olds believe cash is “more reliable” (54%), and over 50s think it provides protection from fraud (55%).</p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" width="1902" height="1007" src="https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-cash-by-age-US-1024x542.png" alt="" class="wp-image-33012" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-cash-by-age-US-1024x542.png 1024w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-cash-by-age-US-300x159.png 300w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-cash-by-age-US-768x407.png 768w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-cash-by-age-US-1536x813.png 1536w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-cash-by-age-US.png 1902w" sizes="(max-width: 1902px) 100vw, 1902px" /></figure></div>


<p>Interestingly, those aged 31-49 over-index for saying they get paid in cash: 24%, versus 13% of over under 30s and 10% of over 50s. Only 4% of Americans in our survey say they don’t have access to another means of payment, but 31% are attracted to cash because it means they don’t have to share their data.&nbsp;</p>



<h3 class="wp-block-heading" id="h-going-cashless-might-alienate-older-consumers"><strong><strong>Going cashless might alienate older consumers</strong></strong></h3>



<p>Younger Americans are more likely to be in favor of a cashless society than against it, but those aged 50-67 firmly oppose the US becoming a cash-free nation. Just over 50% say they wouldn’t welcome a cashless society (while only 30% would). That’s in comparison to 25% of under 30s and 28% of 31-49-year-olds who are actively against the idea. </p>



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
<p>41% of American consumers are against cash-free businesses</p>
</blockquote>



<p>When it comes to businesses not accepting cash, the over 50s are most likely to object: 41% say they’re against cashless businesses, versus 28% of the younger age groups. And although half of over 50s are happy to leave it up to the business to decide whether or not to accept cash, businesses that do opt to ban cash risk alienating a significant percentage of that demographic.&nbsp;&nbsp;</p>



<p>With that said, if your brand is targeting consumers in the Millennial bracket, focusing on digital payments might make sense. A quarter of this demographic (more than any other) strongly agree they would welcome the prospect of a cashless society, with 53% preferring not to carry out transactions with cash.&nbsp;</p>



<h3 class="wp-block-heading" id="h-digital-payments-preferred-but-reliability-concerns-are-high"><strong><strong>Digital payments preferred, but reliability concerns are high</strong></strong></h3>



<p>Although more than half of each age group tends to carry cash in their wallets, most consumers prefer to use a digital payment method. Cards are the most popular payment type overall, but under 30s are more likely than other age groups to choose device payments (19%).</p>



<p>The top reason for favoring digital payments is the convenience they offer (58%), but another benefit is that paying digitally helps people to keep track of what they’ve spent (40%). While those of all ages agree on these advantages, under 30s over-index for using cards to help them build their credit score (22%) and also because they worry about losing cash or being shortchanged (20%). Meanwhile, those aged 50-67 are significantly more likely than other age groups to favor card payments because they can earn points or cashback (39%). </p>


<div class="wp-block-image">
<figure class="aligncenter size-large is-resized"><img decoding="async" width="1895" height="1000" src="https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-digital-payments-by-age-US-1024x540.png" alt="" class="wp-image-33013" style="width:700px" srcset="https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-digital-payments-by-age-US-1024x540.png 1024w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-digital-payments-by-age-US-300x158.png 300w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-digital-payments-by-age-US-768x405.png 768w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-digital-payments-by-age-US-1536x811.png 1536w, https://www.askattest.com/wp-content/uploads/2025/06/Reasons-for-preferring-digital-payments-by-age-US.png 1895w" sizes="(max-width: 1895px) 100vw, 1895px" /></figure></div>


<p><br>Despite the benefits offered by digital payments, providers should note a reasonable amount of concern among US consumers surrounding their reliability. More than half of Americans worry about power outages or cyber attacks causing digital payments to fail. This fear is most pronounced among the under 30s, 57% of whom agree it worries them.</p>



<div class="content-cta-banner-new content-cta-banner-new--theme-primary-light content-cta-banner-new--type-other" data-content-cta-banner="true"><div class="grid"><div class="col col--1/2@md" data-content-cta-banner-col-left="true"><div class="content-cta-banner-new__image-wrapper content-cta-banner-new--type-other__image-wrapper"><img decoding="async" class="content-cta-banner-new__image content-cta-banner-new--type-other__image" src="https://www.askattest.com/wp-content/uploads/2025/06/2025-US-Media-Consumption-cover.png" /></div></div><div class="col col--1/2@md" data-content-cta-banner-col-right="true"><div class="content-cta-banner-new__content"><p class="h3 content-cta-banner-new__title">Get the latest US media consumption data</p><p class="p content-cta-banner-new__text" data-content-cta-banner-text="true">The 6th annual edition covers television, audio, news, and social media, offering you a detailed breakdown of how Americans spend their time.</p><a class="button button--large content-cta-banner-new__button" rel="noopener noreferrer" target="_blank" href="https://www.askattest.com/our-research/2025-us-media-consumption-report" data-content-cta-banner-button="true">Download now!</a></div></div></div><button class="content-cta-banner-new__close-button" data-content-cta-banner-close-button="true"><img decoding="async" width="32" height="32" class="content-cta-banner-new__close-icon" alt="Close banner" src="/wp-content/themes/attest/images/icons/icon-close--white.svg" /></button></div>
<p>The post <a href="https://www.askattest.com/blog/research/cash-is-back-hard-money-sees-a-post-pandemic-resurgence">Cash is back: hard money sees a post-pandemic resurgence</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>What is monadic testing? How to use it to your advantage</title>
		<link>https://www.askattest.com/blog/articles/monadic-testing</link>
		
		<dc:creator><![CDATA[Jacob Barker]]></dc:creator>
		<pubDate>Thu, 03 Oct 2024 14:02:39 +0000</pubDate>
				<category><![CDATA[Article]]></category>
		<guid isPermaLink="false">https://www.askattest.com/?p=28752</guid>

					<description><![CDATA[<p>Feedback from consumers is crucial. Whether you work in marketing, product development, or sales, you can&#8217;t improve without feedback. But the type of feedback you get matters just as much. Because not all feedback is created equal. For example: when a customer is trying out a whole range of perfumes at once in a store (...)</p>
<p>The post <a href="https://www.askattest.com/blog/articles/monadic-testing">What is monadic testing? How to use it to your advantage</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>Feedback from consumers is crucial.</p>



<p>Whether you work in marketing, product development, or sales, you can&#8217;t improve without feedback. But the type of feedback you get matters just as much. Because not all feedback is created equal.</p>



<p>For example: when a customer is trying out a whole range of perfumes at once in a store that already smells of bubblegum, the feedback on the scents you sell is somewhat useless. The solution to that is monadic testing: a market research approach in which you show your audience concepts in isolation. That way, you get focused, unfiltered feedback on that specific idea—nothing else is competing for their attention.</p>



<p>But what if you need to know what they think about multiple concepts? That’s what <strong>sequential monadic testing</strong> is for. It’s similar, but here, you test one concept after another with the same audience, giving you a way to compare reactions while still keeping the feedback clean and focused.</p>



<p>Of course, (sequential) monadic testing applies to much more than just perfume, cheese or wine. You can use it for digital products, in retail, and anywhere else where feedback is key. And the best thing? You can do it at scale, with Attest. Let&#8217;s explore what it is, and how you can use it to your benefit.</p>



<h2 class="wp-block-heading" id="h-what-is-a-monadic-test"><strong>What is a monadic test?</strong></h2>



<p>A <strong>monadic test</strong> is a method used in<a href="https://www.askattest.com/market-analysis"> <u>market analysis</u></a> where you present only one concept or product idea at a time to respondents. The goal is to get their honest reaction on that single concept without other ideas clouding their judgment or having them compare it to other options they&#8217;re seeing. By isolating a single concept, you learn how well it actually resonates with your audience, without any outside influences muddying the waters. Respondents won&#8217;t put it on a scale, but give focused feedback.</p>



<h2 class="wp-block-heading" id="h-monadic-testing-vs-sequential-monadic-testing"><strong>Monadic testing vs. sequential monadic testing</strong></h2>



<p>If you need to test more concepts than one, but still want uncluttered, unbiased feedback, you can use sequential monadic testing. The difference between <strong>monadic testing</strong> and <strong>sequential monadic testing</strong> is in how you present your concepts to your audience.</p>



<p>In <strong>monadic testing</strong>, respondents see <strong>only one concept</strong> in isolation. This eliminates the influence of <strong>other concepts</strong>.</p>



<p>With <strong>sequential monadic testing</strong> you can test <strong>multiple concepts</strong> one after the other with the same group of people.</p>



<p>This method is perfect for <strong>comparison testing</strong> because it lets you see how different ideas stack up against each other in real time.</p>



<p><strong>Pro tip: </strong>Keep in mind that with sequential monadic testing there&#8217;s a slight risk of <strong>order bias</strong>, meaning the sequence in which concepts are presented can affect the feedback. Still, sequential monadic tests are incredibly useful when you need to test several ideas with <strong>fewer respondents</strong>.</p>



<p>Both methods have their strengths, but your choice depends on what you&#8217;re trying to achieve, and what needs testing. If you’re looking for in-depth feedback on a single idea, <strong>monadic tests</strong> are your best bet. But if you need to understand how different concepts compare directly, <strong>sequential monadic tests</strong> are the way to go.</p>



<figure class="wp-block-image"><img decoding="async" src="https://www.brandspeak.co.uk/wp-content/uploads/2022/06/Screenshot-2022-06-27-at-18.36.35.png" alt="Monadic vs Sequential Monadic Concept Testing - which to use?" /></figure>



<h2 class="wp-block-heading" id="h-the-benefits-of-monadic-testing"><strong>The benefits of monadic testing</strong></h2>



<p>Market researchers, product designers, data-driven marketers: they all love monadic testing.</p>



<p>Whether you&#8217;re trying to refine products, messages, or packaging, it&#8217;s one of the more clean ways of getting data to support your ideas and guide next steps.</p>



<p>Here&#8217;s why this method is so effective:</p>



<h4 class="wp-block-heading" id="h-1-clarity-understanding-your-concept-without-distractions"><strong>1. Clarity: Understanding your concept without distractions</strong></h4>



<p>One of the most benefits of <strong>monadic tests</strong> is the level of clarity they provide.</p>



<p>When your respondents are shown just one concept – whether it&#8217;s a product idea, an advertisement, or a value proposition – they focus solely on that idea without being influenced by comparisons. Because when you&#8217;d show even only two concepts at a time, people will automatically start comparing them. Which is not always what you want.</p>



<p>You&#8217;ll get feedback that reflects the true perception or first impression of the concept. You&#8217;re not left wondering which part of a comparison swayed the response; you get a clear, unambiguous read on what your audience really thinks.</p>



<h4 class="wp-block-heading" id="h-2-predictability-consistent-results-with-fewer-surprises"><strong>2. Predictability: Consistent results with fewer surprises</strong></h4>



<p>In <strong>monadic testing</strong>, each respondent evaluates a single concept in a vacuum, free from the influence of <strong>other concepts</strong>.</p>



<p>This means you&#8217;re more likely to increase the predictability of your results. Now, why would you want that? It&#8217;s (fairly) simple: when there are fewer variables at play, the data you gather is more consistent and reliable. This allows you to forecast outcomes with a lot more accuracy.</p>



<p>For consumer brands making high-stakes decisions –&nbsp;like whether to greenlight a new product or spend money on a daring campaign – this predictability is invaluable in making confident decisions, and getting stakeholders on board.</p>



<h4 class="wp-block-heading" id="h-3-reliability-minimizing-bias-for-more-accurate-insights"><strong>3. Reliability: Minimizing bias for more accurate insights</strong></h4>



<p>Reliability in <strong>market research</strong> hinges on eliminating biases, and <strong>monadic tests</strong> are great at exactly that.</p>



<p>By showing respondents only one concept, you minimize the risk of <strong>order bias</strong> and <strong>interaction effects</strong> – factors that can skew the results in <strong>comparison testing</strong> methods.</p>



<p>With monadic testing, the feedback is purely about the concept itself, which often leads to more accurate insights that you can trust.</p>



<h4 class="wp-block-heading" id="h-4-cost-effectiveness-maximizing-roi-in-the-long-run"><strong>4. Cost-effectiveness: Maximizing ROI in the long run</strong></h4>



<p>While <strong>monadic testing</strong> typically requires a larger <strong>sample size</strong> compared to other methods, it’s more <strong>cost-effective</strong> in the long run.</p>



<p>The reason? The data you collect is highly focused and actionable, reducing the need for repeated tests.</p>



<p>This also allows you to make informed decisions faster. In other words, if you do monadic testing right, it can give you all <a href="https://www.askattest.com/blog/articles/benefits-of-qualitative-market-research">the benefits of qualitative market research</a>: better resource allocation, quicker time to market, and ultimately, a higher return on investment.</p>



<h4 class="wp-block-heading" id="h-5-in-depth-insights-taking-it-to-the-next-level"><strong>5. In-depth insights: taking it to the next level</strong></h4>



<p>Monadic testing is a great place to start if you want to go into the deep end with your audience.</p>



<p>Because respondents in a <strong>monadic test</strong> focus entirely on one idea, you get clear inspiration for asking more detailed <strong>follow-up questions </strong>and qualitative questions. This can give you a richer understanding of your concept’s strengths and weaknesses, even the ones your team may have not seen before.</p>



<p>For more on the benefits of consumer research, <a href="https://www.askattest.com/blog/articles/benefits-of-qualitative-market-research"><u>check out this article</u></a>.</p>



<div class="content-cta-banner-new content-cta-banner-new--theme-primary-light content-cta-banner-new--type-other" data-content-cta-banner="true"><div class="grid"><div class="col col--1/2@md" data-content-cta-banner-col-left="true"><div class="content-cta-banner-new__image-wrapper content-cta-banner-new--type-other__image-wrapper"><img decoding="async" class="content-cta-banner-new__image content-cta-banner-new--type-other__image" src="https://www.askattest.com/wp-content/uploads/2024/06/Container-Visual-1.svg" /></div></div><div class="col col--1/2@md" data-content-cta-banner-col-right="true"><div class="content-cta-banner-new__content"><p class="h3 content-cta-banner-new__title">Run easy monadic testing to your target customers</p><p class="p content-cta-banner-new__text" data-content-cta-banner-text="true">Guarantee results from your concepts and marketing creative by testing them first with your target audience. And fine tune your concepts to make sure you launch effective campaigns.</p><a class="button button--large content-cta-banner-new__button" rel="noopener noreferrer" target="_blank" href="https://www.askattest.com/creative-testing" data-content-cta-banner-button="true">Start testing</a></div></div></div><button class="content-cta-banner-new__close-button" data-content-cta-banner-close-button="true"><img decoding="async" width="32" height="32" class="content-cta-banner-new__close-icon" alt="Close banner" src="/wp-content/themes/attest/images/icons/icon-close--white.svg" /></button></div>



<h2 class="wp-block-heading" id="h-types-of-monadic-concept-testing"><strong>Types of monadic concept testing</strong></h2>



<p>Monadic concept testing is more versatile than you may think. There are several variations you can choose from, depending on your specific goals and resources.</p>



<p>We&#8217;ll have a look at how each approach offers its own advantages, so you can tailor your testing strategy to gather the most relevant and actionable insights.</p>



<h4 class="wp-block-heading" id="h-1-split-cell-testing"><strong>1. Split cell testing</strong></h4>



<p>With <strong>split cell testing</strong>, you divide your audience into separate groups, with each group exposed to only one concept.</p>



<p>This method is great for testing multiple concepts without letting the feedback from one group influence another. You get to see how different ideas perform in isolation, ensuring that the feedback you receive is purely about the concept in question.</p>



<p>This approach is ideal for testing <strong>multiple concepts</strong> simultaneously while maintaining the clarity and focus that <strong>monadic tests</strong> are known for.</p>



<h4 class="wp-block-heading" id="h-2-partially-sequential-testing"><strong>2. Partially sequential testing</strong></h4>



<p><strong>Partially sequential testing</strong> gives you the best of both worlds. It strikes a balance between <strong>monadic</strong> and <strong>sequential monadic testing</strong>.</p>



<p>In this hybrid approach, respondents might be shown one concept first, followed by others after a break or in a different session.</p>



<p>The aim of this method is to reduce <strong>order bias</strong> –&nbsp;the tendency for earlier concepts to be remembered more favorably – while still allowing some level of comparison between ideas. Use this when you want to do<a href="https://www.askattest.com/blog/articles/consumer-research"> <u>consumer research</u></a> that compares concepts but are concerned about the potential influence of seeing them back-to-back, for instance with concepts that are strikingly similar.</p>



<h4 class="wp-block-heading" id="h-3-sequential-monadic-testing"><strong>3. Sequential monadic testing</strong></h4>



<p>If you do want to compare opinions, you can use a sequential monadic test.</p>



<p>This method of concept testing involves showing the same respondents multiple concepts, one after the other. When you need to understand how concepts stack up against each other in the same respondent&#8217;s mind, this is the way to go.</p>



<p>But while it offers valuable comparison insights, be mindful of <strong>order bias</strong>, as the sequence in which concepts are shown can impact how they are perceived.</p>



<p>Explore how Attest’s<a href="https://www.askattest.com/creative-testing"> <u>creative testing</u></a> services can support your market research efforts.</p>



<h2 class="wp-block-heading" id="h-how-to-set-up-a-monadic-test"><strong>How to set up a monadic test</strong></h2>



<p>Below you&#8217;ll find what steps to keep in mind in general when setting up a monadic test, and how Attest makes it even easier:</p>



<h4 class="wp-block-heading" id="h-step-1-define-your-objective"><strong>Step 1: Define your objective</strong></h4>



<p>Every other step in the process will be influenced by the goal of your monadic concept testing.</p>



<p>What is it you want to learn, and what do you want to do with that information? Are you testing a <strong>new product idea</strong>? Trying to refine your <strong>value proposition</strong>? Is this to convince stakeholders, or to give your team fresh ideas? The more clearly defined your objective, the more useful the outcome of the research will be.</p>



<h4 class="wp-block-heading" id="h-step-2-select-your-concepts"><strong>Step 2: Select your concepts</strong></h4>



<p>Choose the concepts or ideas you want to test.</p>



<p>Whether it’s a <strong>product concept</strong>, an <strong>ad headline</strong>, or a <strong>landing page</strong> design, make sure each is clear and well-defined. Know what limitations each concept has, depending on the stage of development it is in. You should either communicate this to your target audience, or keep it in mind when analyzing their feedback.</p>



<h4 class="wp-block-heading" id="h-step-3-design-your-survey"><strong>Step 3: Design your survey</strong></h4>



<p>Time to create a <strong>monadic survey design</strong> or sequential monadic test.</p>



<p>Your survey should include <strong>follow-up questions</strong> that dive into why respondents feel the way they do about the concept. With Attest, you can easily do this.<a href="https://intercom.help/attest/en/articles/9744478-getting-started-with-monadic-testing"> <u>Just check our tutorial here</u></a>.</p>



<h4 class="wp-block-heading" id="h-step-4-choose-your-sample-size"><strong>Step 4: Choose your sample size</strong></h4>



<p>Determine your <strong>sample size</strong> based on your research needs.</p>



<p>A larger sample can provide more reliable data, but it’s essential to balance size with practicality and cost. For comparison testing or clean monadic concept testing, the ideal sample size can differ.</p>



<h4 class="wp-block-heading" id="h-step-5-analyze-the-results-and-take-action"><strong>Step 5: Analyze the results (and take action)</strong></h4>



<p>Once your <strong>monadic test</strong> is complete, analyze the data to identify the strengths and weaknesses of each concept.</p>



<p>Look for trends in the responses that can inform your next steps, based on your initial research goals.</p>



<p>For more detailed insights on setting up <strong>sequential monadic tests</strong> or <strong>split cell monadic testing</strong>, <a href="https://www.askattest.com/blog/articles/how-to-gather-consumer-insights"><u>check out our guide on gathering consumer insights</u></a>.</p>



<div class="content-cta-banner-new content-cta-banner-new--theme-primary-light content-cta-banner-new--type-other" data-content-cta-banner="true"><div class="grid"><div class="col col--1/2@md" data-content-cta-banner-col-left="true"><div class="content-cta-banner-new__image-wrapper content-cta-banner-new--type-other__image-wrapper"><img decoding="async" class="content-cta-banner-new__image content-cta-banner-new--type-other__image" src="https://www.askattest.com/wp-content/uploads/2024/06/Container-Visual-1.svg" /></div></div><div class="col col--1/2@md" data-content-cta-banner-col-right="true"><div class="content-cta-banner-new__content"><p class="h3 content-cta-banner-new__title">Run easy monadic testing to your target customers</p><p class="p content-cta-banner-new__text" data-content-cta-banner-text="true">Guarantee results from your concepts and marketing creative by testing them first with your target audience. And fine tune your concepts to make sure you launch effective campaigns.</p><a class="button button--large content-cta-banner-new__button" rel="noopener noreferrer" target="_blank" href="https://www.askattest.com/creative-testing" data-content-cta-banner-button="true">Start testing</a></div></div></div><button class="content-cta-banner-new__close-button" data-content-cta-banner-close-button="true"><img decoding="async" width="32" height="32" class="content-cta-banner-new__close-icon" alt="Close banner" src="/wp-content/themes/attest/images/icons/icon-close--white.svg" /></button></div>
<p>The post <a href="https://www.askattest.com/blog/articles/monadic-testing">What is monadic testing? How to use it to your advantage</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>What is market positioning? 7 Tips to create a recognizable brand</title>
		<link>https://www.askattest.com/blog/articles/market-positioning</link>
		
		<dc:creator><![CDATA[Jacob Barker]]></dc:creator>
		<pubDate>Thu, 06 Jun 2024 09:10:23 +0000</pubDate>
				<category><![CDATA[Article]]></category>
		<guid isPermaLink="false">https://www.askattest.com/?p=26840</guid>

					<description><![CDATA[<p>A solid market positioning strategy answers three fundamental questions: who you&#8217;re serving, what promises you&#8217;re making, and why your audience should trust those promises. With those answers ready, you&#8217;ll have an effective market positioning strategy that influences, well, everything. It&#8217;s a starting point for creative campaigns, it guides product development and touches every other element (...)</p>
<p>The post <a href="https://www.askattest.com/blog/articles/market-positioning">What is market positioning? 7 Tips to create a recognizable brand</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>A solid market positioning strategy answers three fundamental questions: who you&#8217;re serving, what promises you&#8217;re making, and why your audience should trust those promises.</p>



<p>With those answers ready, you&#8217;ll have an effective market positioning strategy that influences, well, everything. It&#8217;s a starting point for creative campaigns, it guides product development and touches every other element of your business and brand, which will make it noticeably easier to make decisions that are in line with your brand positioning.</p>



<p>If you&#8217;re a brand manager or marketer looking to build a brand that turns your target audience from curious to convinced, this article is for you.</p>



<h2 class="wp-block-heading" id="h-what-is-market-positioning"><strong>What is market positioning?</strong></h2>



<p>Successfully positioning your brand means having a distinct place in the market –&nbsp;a place you can own.</p>



<p>An effective positioning strategy ensures your brand isn&#8217;t just wandering around, trying to fit in everywhere and ending up not truly belonging anywhere. It&#8217;ll ultimately make it easier for your ideal target customer to find you.</p>



<p>So why is market positioning important? For one, it helps you play into market trends in a way that feels authentic to your brand. This will strengthen brand recognition and gives your entire organization guardrails for decisions to make. It also helps you build a stronger emotional connection within a specific market segment, by matching your brand identity to what your target customers relate to.</p>



<p>The list goes on: your brand messaging will become stronger by becoming more focused. This will help you create effective marketing campaigns with more ease.</p>



<p>But the best way to describe its benefits, is by comparing it to a more scattered approach – AKA a business and brand without market positioning:</p>



<ul class="wp-block-list">
<li><strong>Clarity and focus:</strong> When you have a clear market position, your marketing efforts are going to be more targeted and efficient. You know who you&#8217;re talking to, what they care about, and how to speak their language. This focus saves resources and increases the impact of your campaigns.</li>



<li><strong>Customer loyalty:</strong> Customers gravitate towards brands that they feel are made for them. By positioning your brand in a way that resonates with a specific group, you&#8217;re more likely to build a loyal following. Sure, these customers buy your product, but more importantly they believe in your brand.</li>



<li><strong>Competitive edge:</strong> A niche market position helps your brand stand out for those looking for something specific. Rather than trying to be different for the sake of it, you&#8217;re doubling down on the reasons you are uniquely meeting your customers&#8217; needs.</li>



<li><strong>Control over consumer perceptions: </strong>By carefully designing a differentiation strategy for your brand, you take charge of your brand image. Instead of blindly reacting to the market and having that influence your brand&#8217;s perception, you guide your target audience&#8217;s attention to the things you want to highlight.</li>
</ul>



<div class="content-cta-banner-new content-cta-banner-new--theme-green-light content-cta-banner-new--type-other" data-content-cta-banner="true"><div class="grid"><div class="col col--1/2@md" data-content-cta-banner-col-left="true"><div class="content-cta-banner-new__image-wrapper content-cta-banner-new--type-other__image-wrapper"><img decoding="async" class="content-cta-banner-new__image content-cta-banner-new--type-other__image" src="https://www.askattest.com/wp-content/uploads/2024/04/product-market-analysis-2-2.svg" /></div></div><div class="col col--1/2@md" data-content-cta-banner-col-right="true"><div class="content-cta-banner-new__content"><p class="h3 content-cta-banner-new__title">Ace your market positioning!</p><p class="p content-cta-banner-new__text" data-content-cta-banner-text="true">Win and protect market share with a positioning strategy based on solid consumer intel – check these top market analysis tools</p><a class="button button--large content-cta-banner-new__button" rel="noopener noreferrer" target="_blank" href="https://www.askattest.com/blog/articles/market-analysis-tools" data-content-cta-banner-button="true">Get your market insights</a></div></div></div><button class="content-cta-banner-new__close-button" data-content-cta-banner-close-button="true"><img decoding="async" width="32" height="32" class="content-cta-banner-new__close-icon" alt="Close banner" src="/wp-content/themes/attest/images/icons/icon-close--white.svg" /></button></div>



<h3 class="wp-block-heading" id="h-the-three-levels-of-brand-and-market-positioning"><strong>The three levels of brand and market positioning</strong></h3>



<p>There&#8217;s no positioning that is &#8216;simply the best&#8217; in the market. The &#8221;market&#8221; is composed of so many different elements and factors, and what is viewed as the best by one consumer might be a complete miss for another.</p>



<p>So it&#8217;s up to you to find a positioning that makes sense for your business, and for your target audience. Instead of looking at the market as a whole, positioning can often be done on three different levels:</p>



<h4 class="wp-block-heading" id="h-1-comparative-positioning">1. Comparative positioning</h4>



<p>This focuses on how your brand stacks up against the competition, making it clear why you&#8217;re the better choice.</p>



<h4 class="wp-block-heading" id="h-2-differentiation-positioning">2. Differentiation positioning</h4>



<p>This highlights what sets your brand apart, whether it&#8217;s an innovative feature, exceptional service, or value for money.</p>



<h4 class="wp-block-heading" id="h-3-segmentation-positioning"><strong>3. Segmentation positioning</strong></h4>



<p>This involves tapping into specific customer groups and tailoring your messaging to meet their unique needs and preferences.</p>



<p>Better yet: mix these strategies to create a strong, multifaceted approach.</p>



<h3 class="wp-block-heading" id="h-what-s-involved-in-market-positioning"><strong>What&#8217;s involved in market positioning?</strong></h3>



<p>You can&#8217;t just &#8216;choose&#8217; a market positioning. In the real world, it&#8217;s the results of research and making data-driven decisions.</p>



<p>Here&#8217;s how you go about finding your brand positioning strategy:</p>



<ul class="wp-block-list">
<li>Start with <strong><a href="https://www.askattest.com/market-analysis">market research</a></strong> to get a broad view of what&#8217;s happening in your space. Look at demand, industry trends, and where you might fit into the bigger picture.</li>



<li><strong>Competitor research</strong> then narrows down the focus to whom you&#8217;re up against. Look at both every competitor&#8217;s unique features and where you can carve out your own niche. You can run competitor-specific intel gathering, and you can (and should!) run market research to ask how your target audience feel about those competitors.</li>



<li><strong>Differentiation</strong> is all about what your brand competes on. Find and clearly communicate the unique value you offer that no one else does.</li>



<li>Stay on top of <strong>industry trends</strong>. Make sure your brand is ready to adapt and innovate in response to shifts in the market, in a way that fits your brand&#8217;s identity.</li>



<li>In the meantime, <strong><a href="https://www.askattest.com/brand-tracker">brand health tracking</a></strong> helps you keep an eye on your brand&#8217;s perception. Do this continuously to make sure you&#8217;re moving in the right direction and adjust as necessary.</li>



<li>Understanding your <strong>target audience</strong> through detailed research helps you figure out who exactly you&#8217;re talking to, what they care about, and how your brand can become a part of their lives.</li>



<li><strong>Segmenting the market</strong> lets you break down the broader audience into more manageable groups, defined by demographics, behaviors, or specific needs.</li>



<li><strong>Targeting</strong> begins with choosing which of these segments you&#8217;ll focus your marketing efforts on, assuring you&#8217;re speaking directly to the most receptive audiences.</li>



<li>Form a clear <strong>positioning statement</strong> to sum up what your brand stands for, who it&#8217;s for, and why it matters, in a way that resonates with your target market.</li>



<li>Your <strong>branding and messaging</strong> need to consistently reflect your positioning, creating a cohesive image and voice that speaks directly to your audience.</li>



<li>Aligning your <strong>product strategy </strong>with your market position means every new feature or product launch reinforces the unique place you occupy in your customers&#8217; minds.</li>



<li>Your <strong>pricing strategy</strong> sends a strong message about your brand&#8217;s value and positioning. Whether you&#8217;re aiming for premium or budget-friendly or somewhere in the middle, your prices should reflect the perceived value you offer.</li>



<li>And finally, your <strong>promotional strategy</strong> should bring all of these elements together, showcasing your brand&#8217;s unique position through campaigns that capture your audience&#8217;s imagination and loyalty.</li>
</ul>



<h3 class="wp-block-heading" id="h-examples-of-market-positioning-done-well"><strong>Examples of market positioning done well</strong></h3>



<p>Market positioning can be done on all levels and checking in on your strategy is always a good idea. Here are two examples we love.</p>



<h4 class="wp-block-heading" id="h-best-in-class-university-marketing-by-pslondon"><strong>Best-in-class university marketing by psLondon</strong></h4>



<p>University marketing is boring and cliché, right? It doesn&#8217;t have to be. psLondon took a fresh approach by focusing on what makes each university distinct.</p>



<p>They used market research to put together marketing messages that resonate with the unique values of each institution&#8217;s target students. For instance, they discovered that freedom was a core value for one university&#8217;s audience.</p>



<p>By highlighting these unique values, psLondon helped universities stand out with a brand positioning strategy that attracts the right students by speaking directly to their aspirations.</p>



<h4 class="wp-block-heading" id="h-razor-sharp-positioning-by-manscaped"><strong>Razor-sharp positioning by Manscaped</strong></h4>



<p>Manscaped made its mark by identifying a specific niche in the male grooming market: below-the-waist grooming.</p>



<p>This focus allowed Manscaped to address a unique customer need, setting itself apart from competitors with a mix of quality products and a distinctive brand voice.</p>



<p>Their clear, humorous branding is a great example of how products can shape a positioning strategy that affects marketing strategies.</p>



<h3 class="wp-block-heading" id="h-market-positioning-types"><strong>Market positioning types</strong></h3>



<p>A strong market positioning strategy is easily recognizable and understandable for your target market. Here are some examples of positioning strategies you could consider:</p>



<ul class="wp-block-list">
<li><strong>Value-based positioning</strong></li>



<li><strong>Celebrity-driven positioning</strong></li>



<li><strong>Lifestyle positioning</strong></li>



<li><strong>Emotional positioning</strong></li>



<li><strong>Disruptive positioning</strong></li>



<li><strong>Quality-based positioning</strong></li>



<li><strong>Convenience positioning</strong></li>



<li><strong>Eco-friendly positioning</strong></li>



<li><strong>Price leadership positioning</strong></li>



<li><strong>Heritage or legacy positioning</strong></li>



<li><strong>Exclusivity or prestige positioning</strong></li>



<li><strong>Community-focused positioning</strong></li>
</ul>



<h2 class="wp-block-heading" id="h-how-to-create-a-market-positioning-strategy"><strong>How to create a market positioning strategy</strong></h2>



<p>Here are the steps to take to create your very own unique brand positioning strategy, with tips on how to conduct market research, defining your current market position and creating a compelling positioning statement.</p>



<h3 class="wp-block-heading" id="h-1-gather-insights-through-market-research-surveys"><strong>1. Gather insights through market research surveys</strong></h3>



<p>Start with getting knowledge about brand perception, competitors and your target market. The best way to do that? Surveys. Follow these steps to gather meaningful data for your market positioning:</p>



<ul class="wp-block-list">
<li><strong>Focus your research</strong>: Determine whether you’re checking in on your brand&#8217;s current standing or identifying a niche for a new product positioning. This focus guides your survey design.</li>



<li><strong>Ask positioning-specific questions</strong>: Formulate questions that give insight into how your audience perceives your brand or product against factors like price, quality, and competitor offerings.</li>



<li><strong>Segment responses for clarity</strong>: Break down survey responses by demographics or usage patterns to see how different groups view your brand.</li>



<li><strong>Don&#8217;t fear open-ended questions</strong>: Use qualitative questions to gather in-depth reasons behind customer preferences.</li>



<li><strong>Analyze with Attest</strong>: Use our platform to spot trends and patterns in your data. Our survey and research analysis tools help you work quicker and more accurately.</li>
</ul>



<h3 class="wp-block-heading" id="h-2-analyze-the-competition"><strong>2. Analyze the competition</strong></h3>



<p>Look at who&#8217;s already out there.</p>



<p>What are they doing in their positioning strategies that resonates with customers? More importantly, where are they dropping the ball? Do consumers need an alternative to them, or something completely different? Analyze the competition not only from your brand&#8217;s POV, but more importantly from the eyes of your target customers.</p>



<h3 class="wp-block-heading" id="h-3-determine-your-current-brand-position"><strong>3. Determine your current brand position</strong></h3>



<p>Now, let&#8217;s do some self reflection.</p>



<p>How do people see you right now? Are you the go-to for something specific, or are you blending into the background? How would you describe your current positioning? You can use surveys, social listening, and customer feedback to get a clear picture, and nail your positioning strategies.</p>



<p>When analyzing your brand&#8217;s current position, several aspects need careful consideration:</p>



<ul class="wp-block-list">
<li><strong>Accessibility</strong>: How easy is it for customers to find and engage with your products or services? This could range from your online presence to the availability of your products in physical stores.</li>



<li><strong>Durability</strong>: This speaks to the quality and longevity of your products. Are customers seeing you as a brand that delivers durable, long-lasting products, or are there concerns about quality?</li>



<li><strong>Messaging clarity</strong>: Evaluate how your brand&#8217;s messaging and value proposition resonates with your target audience. Does it clearly communicate your unique value proposition, or is it getting lost in the noise of the market?</li>



<li><strong>Innovation and novelty</strong>: How are your products or services perceived in terms of innovation? Are you seen as a front-runner who&#8217;s always pushing the envelope, or as a follower? How are competitors approaching product positioning?</li>



<li><strong>Price point and value perception</strong>: Lastly, look at how your pricing strategy aligns with customer perceptions of value. Are your products viewed as worth the investment, or are potential customers put off by price?</li>
</ul>



<h3 class="wp-block-heading" id="h-4-write-a-clear-positioning-strategy-statement"><strong>4. Write a clear positioning strategy statement</strong></h3>



<p>Before explaining what a great positioning statement is, let&#8217;s look at what it isn&#8217;t.</p>



<p><em>It&#8217;s not a slogan or tagline.</em></p>



<p><em>It&#8217;s not marketing talk.</em></p>



<p><em>It&#8217;s not an empty promise or a dream for the future.</em></p>



<p>An effective market positioning strategy needs to have authentic, reasonable and actionable positioning statements. That should include the following elements:</p>



<ol class="wp-block-list">
<li><strong>Target audience</strong>: Clearly define who your product is for. The more specific, the better.</li>



<li><strong>Market definition</strong>: Describe the category your product or service lives in.</li>



<li><strong>Brand promise</strong>: What are you promising to deliver to your customers that&#8217;s unique?</li>



<li><strong>Reason to believe</strong>: Why should your customers believe your promise? What evidence supports it?</li>
</ol>



<h3 class="wp-block-heading" id="h-5-create-a-perceptual-map"><strong>5. Create a perceptual map</strong></h3>



<p>A perceptual map is a visual tool that helps you see where your product stands in the hearts and minds of your customers compared to your competitors. Here&#8217;s how to create one:</p>



<ol class="wp-block-list">
<li><strong>Identify the criteria:</strong> Start by picking two attributes that are important to your target audience. For example, price and quality.</li>



<li><strong>Survey your audience:</strong> Ask your customers to rate your brand and your competitors based on these attributes. This can be done through market research surveys.</li>



<li><strong>Plot the data</strong>: On a graph, plot where each brand lands according to the surveyed attributes. Your product will be a dot on this graph, as will your competitors.</li>



<li><strong>Analyze the map:</strong> Look for gaps in the market. These are areas where customer needs might not be fully met by existing products. They represent opportunities for differentiation and growth.</li>
</ol>



<p>By understanding where you stand, you can navigate your brand towards uncharted territories or strengthen your position in the market. It’s a visual guide to making strategic decisions that resonate with your target audience, and communicating about said decisions with stakeholders. It might seem silly, but it&#8217;s a lot more clear than just using words.</p>



<h3 class="wp-block-heading" id="h-6-implement-a-strategy-that-maintains-brand-reputation-and-perception"><strong>6. Implement a strategy that maintains brand reputation and perception</strong></h3>



<p>Implementing a strategy that maintains your brand&#8217;s reputation and perception is about consistency and responsiveness. Here&#8217;s how to stay on top of your game:</p>



<ol class="wp-block-list">
<li><strong>Stay true to your promise</strong>: Whatever your positioning statement claims, live up to it in every product, service, and interaction.</li>



<li><strong>Monitor feedback</strong>: Use recurring surveys, social listening tools and customer feedback platforms to keep an ear to the ground.</li>



<li><strong>Act on insights</strong>: When feedback reveals a gap between your brand promise and customer experience, act swiftly to close it.</li>



<li><strong>Communicate changes</strong>: When you make changes based on customer feedback, let your audience know.</li>



<li><strong>Educate your team</strong>: Everyone from your frontline staff to your top executives should understand your brand&#8217;s positioning and how it influences their roles.</li>
</ol>



<h3 class="wp-block-heading" id="h-7-knowing-when-to-reposition"><strong>7. Knowing when to reposition</strong></h3>



<p>It&#8217;s important to recognize the signs that your current market positioning isn&#8217;t serving your brand as effectively as it could. Here are some indicators that it might be time for a shift:</p>



<ol class="wp-block-list">
<li><strong>Market evolution</strong>: What worked yesterday might not work today. If industry trends or consumer preferences have shifted significantly, your positioning might need an update to stay relevant.</li>



<li><strong>Feedback and data</strong>: Consistent customer feedback indicating confusion about your brand or dissatisfaction with how your products meet their needs suggests your positioning may be off the mark.</li>



<li><strong>Competitor moves</strong>: If competitors have repositioned themselves in a way that threatens your unique position, or if they have successfully identified and occupied a new niche, it might be time to reassess and redefine your own positioning.</li>



<li><strong>Brand evolution</strong>: Your brand might have grown or changed direction since you last defined your positioning. New products, services, or values often call for a repositioning to accurately reflect who you are now.</li>



<li><strong>Customer base changes</strong>: If you notice significant changes in your customer base – such as appealing to an unintended demographic or losing touch with your core audience – this is a clear sign to reevaluate and adjust your positioning.</li>
</ol>



<p>Repositioning doesn&#8217;t mean starting from scratch but refining and realigning your strategy to ensure it&#8217;s as effective as possible. It’s about staying attuned to the ever-changing market and ensuring your brand continues to resonate with your target audience.</p>



<h2 class="wp-block-heading" id="h-use-a-clear-market-positioning-to-connect-with-consumers"><strong>Use a clear market positioning to connect with consumers</strong></h2>



<p>The right positioning can transform how customers see your brand, making your products and messaging resonate more deeply with them. But markets and consumer preferences are always changing. Regular research and analysis are crucial to stay aligned with your audience&#8217;s needs and ahead of the competition.</p>



<p>Make sure you fill your toolkit with solutions that simplify this process. Read on to find a <a href="https://www.askattest.com/market-analysis">market analysis</a> tool that helps you find your most <a href="https://www.askattest.com/blog/articles/market-analysis-tools"><u>effective positioning strategy</u></a>.</p>



<div class="content-cta-banner-new content-cta-banner-new--theme-green-light content-cta-banner-new--type-other" data-content-cta-banner="true"><div class="grid"><div class="col col--1/2@md" data-content-cta-banner-col-left="true"><div class="content-cta-banner-new__image-wrapper content-cta-banner-new--type-other__image-wrapper"><img decoding="async" class="content-cta-banner-new__image content-cta-banner-new--type-other__image" src="https://www.askattest.com/wp-content/uploads/2024/04/product-market-analysis-2-2.svg" /></div></div><div class="col col--1/2@md" data-content-cta-banner-col-right="true"><div class="content-cta-banner-new__content"><p class="h3 content-cta-banner-new__title">Ace your market positioning!</p><p class="p content-cta-banner-new__text" data-content-cta-banner-text="true">Win and protect market share with a positioning strategy based on solid consumer intel – check these top market analysis tools</p><a class="button button--large content-cta-banner-new__button" rel="noopener noreferrer" target="_blank" href="https://www.askattest.com/blog/articles/market-analysis-tools" data-content-cta-banner-button="true">Get your market insights</a></div></div></div><button class="content-cta-banner-new__close-button" data-content-cta-banner-close-button="true"><img decoding="async" width="32" height="32" class="content-cta-banner-new__close-icon" alt="Close banner" src="/wp-content/themes/attest/images/icons/icon-close--white.svg" /></button></div>
<p>The post <a href="https://www.askattest.com/blog/articles/market-positioning">What is market positioning? 7 Tips to create a recognizable brand</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></content:encoded>
					
		
		
			</item>
		<item>
		<title>How to minimise survey response bias</title>
		<link>https://www.askattest.com/blog/articles/how-to-minimise-bias-in-survey-research</link>
		
		<dc:creator><![CDATA[Jacob Barker]]></dc:creator>
		<pubDate>Wed, 23 Aug 2017 09:00:00 +0000</pubDate>
				<category><![CDATA[Article]]></category>
		<guid isPermaLink="false">http://127.0.0.1/blog/insight/how-to-minimise-bias-in-survey-research</guid>

					<description><![CDATA[<p>Professor Patrick Barwise explains how to avoid response bias and nonresponse bias in survey research so brands gain more valuable insights.</p>
<p>The post <a href="https://www.askattest.com/blog/articles/how-to-minimise-bias-in-survey-research">How to minimise survey response bias</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></description>
										<content:encoded><![CDATA[
<p>This may sound obvious, but survey research only has value if the results are valid. However, many brands are basing decisions on unreliable surveys affected by response bias.</p>



<p>Response bias occurs when survey participants provide inaccurate or unrepresentative answers, leading to skewed data that can seriously undermine your research insights. To help you collect more reliable data, we spoke to Professor Patrick Barwise, one of Attest&#8217;s investors and advisers, emeritus professor of management and marketing at London Business School, and a Patron of the Market Research Society.</p>



<h2 class="wp-block-heading" id="h-tl-dr-how-to-minimize-response-bias-in-surveys">TL;DR: How to minimize response bias in surveys</h2>



<p>Response bias occurs when survey participants provide inaccurate or unrepresentative answers, leading to skewed data. To collect more reliable insights, follow these 8 best practices:</p>



<ol class="wp-block-list">
<li>Use random sampling – Ensure your respondents reflect your target population</li>



<li>Ask neutral, clearly worded questions – Avoid leading or emotionally charged language</li>



<li>Keep surveys concise – Reduce fatigue that can lead to rushed or patterned responses</li>



<li>Mix question formats – Use a balance of open-ended and closed-ended questions</li>



<li>Provide anonymity – Encourage honesty by keeping responses confidential</li>



<li>Avoid priming or framing – Don’t include context that influences how questions are answered</li>



<li>Pretest your survey – Identify and fix biased wording before launch</li>



<li>Follow up with non-respondents – Increase participation to reduce self-selection bias</li>



<li>Minimizing response bias ensures you get data you can trust &#8211; and act on with confidence</li>
</ol>



<h2 class="wp-block-heading" id="h-what-is-response-bias"><strong>What is response bias?</strong></h2>



<p>Response bias is caused by asking non-neutral questions or providing non-neutral response options, so that the answers are influenced in one way or another. Professor Barwise experienced an example of this recently, when asked by Lloyds Bank if he was &#8220;delighted&#8221; with the service he&#8217;d received – clearly leading him toward a positive response.</p>



<p>&#8220;We all know that responses to questions can be sensitive to the wording,&#8221; explains Professor Barwise. &#8220;Some of the recent work on behavioural economics is actually based on that – asking questions that are technically the same but where different ways of framing the question elicit significantly different responses.&#8221;</p>



<p>Response bias differs from sampling bias (having an unrepresentative sample) or measurement bias (systematic errors in data collection). Instead, it occurs when the survey design itself influences how people respond, distorting results and leading to poor decision-making based on inaccurate insights.</p>



<h2 class="wp-block-heading" id="h-what-are-the-different-types-of-response-bias"><strong>What are the different types of response bias?</strong></h2>



<p>Understanding the different forms response bias can take is crucial for designing better surveys. Here are the main types to watch out for:</p>



<h3 class="wp-block-heading">Voluntary response bias</h3>



<p>This occurs when only particularly motivated individuals choose to participate in your survey. People with strong opinions – either very positive or very negative – are more likely to respond than those with moderate views.</p>



<p>&#8220;In a lot of contexts, especially online, where you&#8217;ve often got a response rate of only, say, 2% or so, it could well be that the people who are responding are more interested in the product or the issue than the 98% who are not responding, which could seriously bias the results,&#8221; warns Professor Barwise.</p>



<h3 class="wp-block-heading">Social desirability bias</h3>



<p>This happens when respondents answer in ways that make them look good rather than providing truthful responses. Professor Barwise notes this is particularly problematic for certain topics. When asked if any type of survey is especially vulnerable to response bias, he explains:</p>



<p>“Yes there are. For example, surveys can be an unreliable source of insights into many aspects of major purchases such as car buying. Part of the problem is that the purchase is spread over weeks or even months. But also, you have to be careful about anything in which the response could make the respondent look better or worse to himself or herself and to other people.</p>



<p>“For instance, if someone is paying a premium for a luxury car which is functionally pretty similar to a mass market car and the real reason why they’re buying it is to show other people and themselves that they’re rich and successful, they’re not going to say, ‘I chose the BMW to look rich and successful.’ What they will say is, ‘I chose the BMW because I love the styling’ or ‘I identify with the brand because it’s a driver’s car.’ Anything in which the responses are not neutral in terms of people’s self presentation is problematic.</p>



<p>“If you’ve got different wording in which one version will tend to bias the response one way and another will bias it another way, you can test how sensitive it is to the wording. But sometimes there’s going to be a bias <em>however</em> you word it because any positive response makes respondents look good – maybe by suggesting that they care about the environment or whatever. If that is the case, you need more qual research and piloting to get to the bottom of it. There’s no magic bullet.”</p>



<h3 class="wp-block-heading">Acquiescence bias</h3>



<p>Also known as &#8220;yes-saying,&#8221; this occurs when respondents tend to agree with statements regardless of their content. This is especially common in surveys with many agree/disagree questions.</p>



<h3 class="wp-block-heading">Extreme response bias</h3>



<p>Some respondents consistently choose the highest or lowest values on rating scales, regardless of the question content. This can skew your average scores and make it difficult to distinguish between truly different opinions.</p>



<h3 class="wp-block-heading">Non-response bias</h3>



<p>While technically a separate issue, non-response bias occurs when people who don&#8217;t respond to your survey are systematically different from those who do respond in ways that matter for your research.</p>



<p>“Market researchers are trained to worry a lot about sample size but if there is some kind of systematic difference between the people who respond and the people who don’t respond, the sample size is usually the least of your problems.</p>



<p>“Nonresponse bias is something you can’t directly observe because the only data you’ve got is from people who have responded and not from those who haven’t, so it’s a bit of a nasty.</p>



<p>“One thing you can do is find another way of reaching a sample of the people who didn’t respond and maybe use more intensive methods to survey just a few of them, but with a higher response rate. Then see if their responses were very different from the ones from your main sample. Another thing you can do is see if the late responses are very different from the early responses which suggests there might be something else going on.”</p>



<h2 class="wp-block-heading" id="h-how-to-reduce-response-bias-in-your-surveys">How to reduce response bias in your surveys</h2>



<p>Professor Barwise emphasizes that minimizing bias requires careful attention throughout the survey process: &#8220;The top tip is do much more piloting than you think you need. Do pre-piloting then piloting. Do some A/B testing on a small scale. It&#8217;s a very nitty gritty, getting your hands dirty kind of process so you just have to put in the grunt work.&#8221;</p>



<p>Here are the key strategies to implement:</p>



<h3 class="wp-block-heading">Use randomized sampling</h3>



<p>Don&#8217;t rely solely on open calls for feedback through pop-ups or email blasts. Instead, aim for a representative sample of your target population. &#8220;If you&#8217;ve got more than 50% response then you&#8217;d be pretty unlucky if your respondents were very biased,&#8221; notes Professor Barwise.</p>



<h3 class="wp-block-heading">Design unbiased questions</h3>



<p>Avoid leading language and emotionally charged phrasing. Professor Barwise recommends extensive testing: &#8220;To make sure respondents are interpreting the question in the way you mean them to, you need to do a lot of piloting. You may also want to ask the same question in several ways, ideally to different pilot samples, just to see if you get equivalent responses.&#8221;</p>



<p>He suggests a phased approach:</p>



<ul class="wp-block-list">
<li><strong>Pre-pilot stage</strong>: &#8220;Go to just four friendly people, perhaps at the client, giving them the question and talking to them each individually about their interpretation of it and how they might respond to it.&#8221;</li>



<li><strong>Qualitative research</strong>: &#8220;Get people&#8217;s responses and then get them to expand on why they gave those responses, still on a small scale; perhaps just a dozen or so people, individually so they don&#8217;t influence each other.&#8221;</li>



<li><strong>A/B testing</strong>: &#8220;Ask differently worded questions to different subsamples, rather than asking the whole sample a question worded in several ways.&#8221;</li>
</ul>



<h3 class="wp-block-heading">Keep surveys short and focused</h3>



<p>Minimize survey fatigue to reduce drop-off rates and careless answers. Long surveys lead to rushed responses and pattern answering, both forms of response bias.</p>



<h3 class="wp-block-heading">Provide anonymity when appropriate</h3>



<p>&#8220;Going anonymous can help,&#8221; advises Professor Barwise. &#8220;For instance with things like 360-degree feedback where people are rating their subordinates, bosses and colleagues, anonymity is crucial. If you&#8217;re doing an employee survey it&#8217;s really important that they believe their anonymity will be protected as they might think they&#8217;re going to get into trouble.&#8221;</p>



<h3 class="wp-block-heading">Follow up with non-respondents</h3>



<p>Use reminders or alternate contact methods to boost response rates and reduce self-selection bias. Professor Barwise suggests: &#8220;Find another way of reaching a sample of the people who didn&#8217;t respond and maybe use more intensive methods to survey just a few of them, but with a higher response rate. Then see if their responses were very different from the ones from your main sample.&#8221;</p>



<h3 class="wp-block-heading">Pilot test your survey thoroughly</h3>



<p>Test with a small audience to catch unclear or leading questions before launching to your full sample. &#8220;If the different ways of asking the question give you the same quantitative answers then it&#8217;s pretty robust and it doesn&#8217;t matter too much which question you use,&#8221; explains Professor Barwise.</p>



<h3 class="wp-block-heading">Screen for unreliable responses</h3>



<p>When using incentives, protect against people providing junk responses just to get rewards. Professor Barwise recommends several screening methods:</p>



<p>&#8220;Your software needs to screen for obvious issues like surveys that should take 20 minutes coming back in 3 minutes. You can also test for internal consistency by including a couple of brands that don&#8217;t actually exist in brand awareness questions. If a respondent picks a dummy answer, you might discard that response altogether.&#8221;</p>



<h3 class="wp-block-heading">Consider timing carefully</h3>



<p>Avoid surveying only during extreme moments like post-crisis periods or high-celebration events, as these can bias responses toward unusually positive or negative sentiment.</p>



<p>💡<strong>Pro tip:</strong> Minimising bias starts with how you ask the question. Read our guide to <a href="https://www.askattest.com/blog/articles/how-to-write-survey-questions">writing better survey questions</a> to learn how smart phrasing leads to more accurate, trustworthy insights.</p>



<h2 class="wp-block-heading" id="h-conclusion">Conclusion</h2>



<p>While you might think you want to influence responses in a particular direction, if you don&#8217;t aim for neutral and representative surveys, you&#8217;re missing the point of market research. Robust surveys help you really understand your customers and provide more than simple headlines for PR campaigns.</p>



<p>Done properly, surveys offer a true temperature check for your brand and marketplace, providing real, actionable insights that can guide strategy, reveal opportunities, and prevent costly mistakes. As Professor Barwise notes: &#8220;I&#8217;m a great fan of survey research where you&#8217;re measuring things like opinions; how much respondents like something. It&#8217;s ideal for NPS, for example.&#8221;</p>



<p>Being aware of response bias and non-response bias means you can take more care when designing surveys, while proper testing offers the certainty you need to base decisions on accurate results. Remember: response bias can be minimized by going through proper disciplines with an increasing number of real respondents – and most surveys could be improved this way.</p>



<p><em>To learn how Attest can help you avoid both types of bias, </em><a href="https://www.askattest.com/book-a-demo" target="_blank" rel="noreferrer noopener"><em>book a demo today</em></a></p>
<p>The post <a href="https://www.askattest.com/blog/articles/how-to-minimise-bias-in-survey-research">How to minimise survey response bias</a> appeared first on <a href="https://www.askattest.com">Attest</a>.</p>
]]></content:encoded>
					
		
		
			</item>
	</channel>
</rss>
