A new study suggests that more than one-third (35%) of UK consumers now choose products because they have a positive impact on their health and wellbeing, although value for money remains the No.1 determining factor.
The research, conducted by Kantar for the Product of the Year award scheme, asked more than 10,000 UK consumers to reveal the most important factors when choosing which products to buy.
The survey shows that consumers are also drawn to products with eco-friendly packaging (21%) with almost one-fifth (19%) citing ethical sourcing as a key factor in choosing one product over another.
Other factors determining product choice include brands that are innovative (17%) with 6% of consumers identifying an ‘emotional connection’ as a determining factor in product choice.
The study also asked the UK consumer to identify the primary influences when it comes to trying a new product with just over half (52%) citing recommendations from family and friends as the most significant influence. And whilst only 5% (aggregated across all age groups) identified celebrity/influencer endorsement as a factor, this figure is significantly higher amongst Millennial and Gen Z consumers with one in ten (11%) stating that they would be encouraged to try a new product on the basis of influencer endorsement.
Unsurprisingly, ‘value for money’ was still identified as the No.1 determining factor when it comes to product choice (78%), followed by ‘ease of use’ (58%), and if the brand is ‘well-known’ and ‘reputable’ (38%).
NAM Implications:
- Consumers are still cautious (BTW, we need a new post-Brexit excuse…)
- Primary influencers, complete with ‘tell-a-friend’ social media facilities play a big part’
- A 2-edged weapon in that recommendations can be positive or negative:
- ‘Please me and I tell one friend, disappoint me and I tell ten…’
- Add social media and this mechanism scales the message-impact infinitely.
- Incidentally, add celebrity endorsement/disapproval for even greater impact…
- In simple language:
- Get your offering right, always giving more than it says on the tin…
- …or else…
