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Translated by
Nicola Mira
Published
Nov 24, 2016
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Brands: how do consumers choose them?

Translated by
Nicola Mira
Published
Nov 24, 2016

According to a survey by Quantcast, 56% of consumers begin their search for a product looking for a brand they are familiar with, and 49% of them for a well-known brand. Yet 60% of them will eventually turn to a new brand, said the study.
 

To which degree will consumer choice remain loyal toward a familiar brand? - Quantcast


The survey was carried out in the USA, the UK, Australia, France, Germany and Italy, and found that on average consumers have a thorough knowledge of 9-10 brands. In general, when searching for a product, they initially look towards 2-3 brands, before moving on to one or two brands only.for serious purchase consideration.

The issue, therefore, is discovering to which degree customers will remain tied to their initial pool of brands; those that are firmly entrenched in their minds.

Out of eight sectors analysed, it turns out that fashion is one arena in which purchasing decisions are less ingrained, as only 69% of consumers plan to choose from one of these established brands, compared to an average of 75%.
 

In which sectors do consumers change opinion more frequently when choosing a brand? - Quantcast


Fashion is also the sector in which consumers are more prone to a change of opinion shortly before making a purchase (26% of responses), compared to only 14% for high-tech equipment, which brings up the rear.

This is bad news for fashion brands in terms of customer retention, but good news for new brands and acquisition: some 27% of consumers agree that targeted advertising could lead to a reversal in their decision, making them turn to a brand they did not use before.
 
When looking at the reasons for such a reversal, better value for money is the prime motivation, according to 45% of the panel.

In 41% of cases, consumers will change opinion to benefit from a price reduction. Product and service quality are next in line (23%), ahead of ease of purchase (18%) and a friend's recommendation (11%).

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