Monday, July 11, 2016

Six of Ten Global Consumers Enjoy the Hunt for a Good Deal

It’s a small world after all when it comes to the hunt for a good deal.

Why are consumers are addicted to a good deal? It might be because retailers and manufacturers have conditioned shoppers to buy on deal.

The Nielsen Global Retail Growth Strategies Survey polled more than 30,000 online respondents in 61 countries to understand the pain and the pleasure points about the shopping experience. The survey examined how well retailers are currently meeting consumers’ needs and why consumers choose one store over another. It also reviewed a selection of 19 product categories to determine the attributes that are most important. Lastly, the survey looked at consumers’ willingness to use additional in-store services and their preferred approach to dealing with price increases to identify areas for development or improvement.

Consumers are redefining value and the premium segment might be a bright spot in some regions. In Southeast Asia, a Nielsen retail sales analysis of 16 categories in six markets shows dollar sales in the premium segment grew at twice the rate (21%) of the value and mainstream tiers (10% and 8%, respectively) between October 2012 and 2014. China shows a similar trend, with even greater growth (23%) in the premium tier.

Read full article here

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