Roughly 63 percent of shoppers choose private labels due to their low prices and 68 percent of respondents say they are shopping more online, with speed and flexibility being the main shopping driver, according to a report by Salsify, a software company. For the research, "Post Pandemic, New Recession: 2023 Global Guide to Consumers" 6,000 consumers in the U.S., France, Germany, Great Britain, and Australia were surveyed to find what’s driving consumers to buy online.
Despite economic uncertainties, product quality is more important to consumers this year than discounts, with 81 percent indicating that product quality is the number one factor that keeps consumers loyal to their preferred brands, according to the research.
“The pressure is on this year as consumers become much more selective about their purchases. While price is a key factor in purchasing decisions, it’s not the only thing that is swaying these careful consumers,” said Cara Wood, head of research at Salsify, in a statement. “Product quality is under much greater scrutiny and more than half of consumers said they wouldn’t buy a product with bad product content that doesn’t include enough information or includes low-quality images. In fact, strong product content is so important that shoppers are more likely to purchase products from unfamiliar brands or those with bad reputations than those with missing or bad information.”
Roughly 96 percent of consumers purchase store-brand groceries. The findings also indicate that grocery brand names are among the most vulnerable items to be replaced on one’s shopping journey.
The survey also found that parents and non-parents exhibit the following differences:
• Online shopping experience matters less to parents (53 percent) than non-parents (60 percent).
• Parents are more likely than non-parents to cut back on groceries (39 percent versus 33 percent, respectively).
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