Consumers place value over price says survey
Getting 'good value for money' is more important than 'low prices' for the majority of consumers around the world claims a new survey.
The survey by market analysts Nielsen, titled "Global Online Survey," was conducted among 25,000 internet respondents in 51 countries between March 23 and April 12.
Respondents were given a series of statements and asked to rate each one from the most influential reasons to shop at a particular retailer to 'not at all influential.'
The results of the survey, released October 10, revealed that the majority of respondents (61 percent) described "good value for money" as the most influential reason for shopping at a particular retailer; whereas only 58 percent felt low prices were the most important.
The least important reasons for shopping at a particular store were "[it] has a customer loyalty card" and "I just went there to browse," which were respectively rated as ‘highly influential' by 28 percent and 12 percent of respondents.
A separate report by Nielsen indicates that consumers are relecutant to spend and are trying to save money due to low global consumer confidence levels.
An overview of the "Global Online Survey" can be found at http://goo.gl/rk6By
