Charts From Our Brand Intelligence Platforms: Q4 2023

Summary

This Chart Pack consolidates more than a dozen Morning Consult Brand Intelligence trends that our team of industry analysts explored over the final quarter of 2023. The charts examine consumers’ views on artificial intelligence, digital wallets and social media platforms, as well as how key events have impacted those perceptions. We also include insights from our Fastest Growing Brands 2023 report, the definitive measure of brand growth for both emerging and established companies.

This resource provides a preview of the data subscribers can access in Morning Consult’s Brand Intelligence platform, which offers actionable insights into what consumers think, see and say about thousands of brands and products. Subscribers can further explore our data to see how these stories and trends play out among hundreds of different audience profiles, or put them into the context of different brands and events by creating custom dashboards.

Chart Pack highlights:

• ChatGPT claimed the No. 1 spot on our Fastest Growing Brands 2023 list, with its parent company, OpenAI, closely following at No. 7. ChatGPT exhibited remarkable growth this year in terms of brand awareness (from 22% in January to 60% in October) and purchasing consideration (from 5% in January to 16% in October).
• PayPal continues to outperform its digital wallet peers across key metrics, but competitors such as Zelle are beginning to catch up. Zelle secured the No. 3 spot on our Fastest Growing Brands 2023 list and has seen a noticeable increase in users since 2020, particularly among older generations, who trust Zelle more than their younger counterparts. While PayPal’s favorability has remained relatively steady since 2020, hovering between 70% and 75%, Zelle’s favorability grew by 22 percentage points (from 21% in Q1 2020 to 43% in Q3 2023). Cash App followed closely behind with a 21 percentage point increase in favorability over the same period.
• Instagram saw growth in consumer trust in 2023. Between January and October, net trust in the Meta-owned platform increased by nearly 7 points among all U.S. adults and even more among Gen Z adults (11 points). Additionally, its short-form video product, Reels, was the No. 9 fastest growing brand among all adults. Instagram’s success is also partly attributed to the July launch of Threads, which helped generate the most buzz for the platform in 2023.