The Weetabix Food Company has revealed new research that indicates even in the face of the current cost-of-living crisis, the power of a trusted brand still resonates with consumers.
The research for the cereal maker was conducted by KAM, which interviewed convenience retailers and UK adults with children.
Unsurprisingly, two-in-three parents of young children stated that value for money was vital when choosing what to buy for the family. In fact, price ranked the top reason (65%) that encourages them to purchase one cereal over another.
34% said they are currently looking for ways to shop more economically. However, 41% stated that trusted brands are preferable – highlighting that even with the rising costs of groceries, parents still want to buy products that “they know they can depend on”.
Health also remains a prominent factor that affects what parents buy, with 60% of those surveyed claiming healthy products are the top pick and 44% stating that ‘healthy content’ influences their choice of breakfast cereal.
Additionally, 59% stated that they generally choose ‘what they know their children will eat’, which emphasises that they are hoping to minimise wastage.
Meanwhile, 76% of the retailers questioned said that best-sellers most inform what cereal is on their shelves. Weetabix noted that the second most crucial factor is brands that consumers know and trust (69%), which is further evidenced by 89% of retailers agreeing that ‘trusted brands are important within the breakfast cereal category.’
Consumers are also in the forefront of retailers’ minds when choosing stock, with 51% claiming that they get information on what cereals to stock from direct requests in-store.
“With the current cost-of-living crisis, we were really interested to see how retailer and consumer appetites for breakfast cereals had altered and what factors determined what was stocked and, most importantly, bought,” said Lorraine Rothwell, Head of Marketing at Weetabix.
“Knowing that parents are seeking products from trusted brands with strong health credentials is key for us. On the flip side of this, it’s interesting that individual shopper requests influence what is stocked in store, further highlighting how local stores can stand out and ensure a personalised experience for their community by stocking their consumers’ most-loved products.”
NAM Implications:
- This says it all: ‘41% stated that trusted brands are preferable’.
- i.e. ignore trust in your brand at your peril…
- We are entering a New Norm environment where suppliers/processors…
- … maybe tempted/forced to cut corners…
- …leading to increased doubt on the part of consumers.
- A pity if it takes rapidly falling sales to incentivise decisive action.
