‘Comfort’ (34%), ‘curiosity’ (28%) and ‘nostalgia’ (19%) are among the top feelings UK shoppers experience when buying a new product, according to a new survey of 8,000 consumers.
The research was carried out by Product of the Year, the UK’s largest survey of product innovation, in a bid to better understand the motivations and emotions behind buying decisions. ‘Value’ ranked in top place, polling over half (55%) of the votes, with other buying motivators including: ‘loyalty’ (26%), ‘ethical’ (20%), ‘love’ (19%) and ‘recommendation & endorsement’ (14%).
According to the study, when asked what’s most important to them when buying a product, consumers were most concerned with ‘gut health and probiotics’, which drew in a third of the votes (31%). Innovation in this area has risen to new highs as medical research increasingly points towards the importance of our gut health for both mind and body. Plant-based (19%), low and no alcohol (15%), free-from (15%), grooming (13%), home delivered boxes (11%) and most curiously, protein alternatives including mealworms and crickets (10%), all received votes respectively.
Notably, CBD has piqued the interest of the modern shopper, with 8% voting for it. CBD consumption has mushroomed in the UK and for the first year ever, a trio of CBD products walked away with top honours at Product of the Year 2023, including: TRIP CBD drinks range and oil (respectively) and Starpowa Premium CBD gummies. Infused into drinks, gummies, oils and foods, CBD is a category ripe for innovation.
“Competition is at its highest point for consumer brands. On average, approximately 30,000 new products are launched each year – so how do you get cut through?” said Helga Slater, MD, Product of the Year.
“Insights like those revealed in our research show how important emotions are to each and every sale. Consumers care more than ever about their health, the environment, animal welfare and many other factors, and every year we see brands stepping up to meet those needs in highly innovative and creative ways.”
NAM Implications:
- In bygone days, it was said that meeting job/functional needs was a given…
- …and meeting emotional needs can tip the balance.
- So emotional needs research can have merit…
- The issue in the New Norm may be the extent to which need balance may have been upset by cost-of-living pressures…
- That said, worth consideration re brand strategies.
