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8 January 2008
Mumbai, India
Good Value for Money is the most important criteria for Indian Consumers while choosing the grocery shop they would like to shop as per a global online survey conducted by The Nielsen Company. An overwhelming 91 percent of Indians who were surveyed voted for Good Value for Money as the most important factor while selecting a grocery store. India stands fifth globally who consider Good Value for Money as the most important feature while zeroing in on a grocery store.
Conducted in mid 2007, Nielsen surveyed 26,486 internet users in 47 markets from Europe, Asia Pacific, the Americas and the Middle East, on the factors that influenced their choice of grocery store.
Not just India, Nielsen found an overwhelming 85 percent of Global consumers ranking Good Value for Money as the most important consideration when choosing a grocery store – outperforming other considerations like product range, location/convenience, environmental friendliness, etc.
The second most important attribute for Indian consumers for zeroing on a grocery store is Better Selection of High Quality Brands and Products (79%) followed by Location (54%) and Available Parking Space (54%).
“It is interesting to note that consumers in the world’s booming economies like Russia (93%), India (79%) and China (78%) are amongst the few for whom ‘Better Selection of High Quality Brands and Products’ is very important. Shoppers expect the best of both worlds from retailers today. On the one hand, we’re all natural bargain hunters and demand good value for our grocery currency, and on the other, we expect retailers to stock a wide selection of high quality brands and products to allow us to indulge in our favourite premium treats,” said Rajshree Dave, Director, Client Solutions, The Nielsen Company, India.
How consumers define ‘Good Value’?
The survey revealed Price, Promotions and Perceptions as most influential in helping consumers arrive at a perception of value. Indians associate a store that offers products at a cheaper rate than competitors (79%) and a store, which runs regular promotions and price discounts as good value for money. Regionally, Asia Pacific shoppers defined prices published in the store’s own promotional material, the stores’ promise to have every day low prices and own research and price comparison across retailers as their most important Good Value indicators.
“India is a price sensitive country and quiet likely good bargains and promotions catch their fancy. This trend is seen across all classes of consumers. Here prices drive sales. For Indians getting valued brands for a lesser price enhances their shopping experience and is a motivating factor for them to be more loyal to the stores,” added Dave.
64 percent Indians also Research and Compare Prices to decide which store offers Good Value for Money. With 58 percent Word of mouth information also effects where an Indian shops.
“The Indian consumer is cocooned in his values and culture and he comes from a close knit family. Opinions of friends and family matters a lot to him, hence word-of-mouth information remains an important factor while deciding on a store,” continued Dave.
The Environment Connect
Environmental concerns are on the rise and it plays a major role in Indian consumer’s decision to choose a grocery store. 39 percent Indians rate a store higher, if it offers recyclable bags and packaging for their products. Indians rank second globally behind China where choosing a store for it’s environment friendliness is concerned.
About The Nielsen Company
The Nielsen Company is a global information and media company with leading market positions in marketing information (ACNielsen), media information (Nielsen Media Research), online intelligence (Net Ratings and Buzz Metrics), mobile measurement, trade shows and business publications (Billboard, The Hollywood Reporter, Ad week). The privately held company is active in more than 100 countries, with headquarters in Harlem, the Netherlands, and New York, USA. For more information, please visit, www.nielsen.com
47 Markets Covered: Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Czech Republic, Denmark, Egypt, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Ireland, Italy, Japan, Latvia, Lithuania, Malaysia, Mexico, Netherlands, New Zealand, Norway, Philippines, Poland, Portugal, Russia, Thailand, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Taiwan, Turkey, UAE, United Kingdom, US and Vietnam.
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