Of those, 31 percent said that their experience was more positive than they had expected, which means that only about 4 percent of customers are in play. We found, for instance, that only 12 percent of beer buyers switched to cheaper brands. The percentage up for grabs varies by category and depends on how many consumers switch from higher-priced brands, their experience with cheaper ones, and the way they revise their buying intentions. As a result, 34 percent of the switchers said they no longer preferred higher-priced products, and an additional 41 percent said that while they preferred the premium brand, it “was not worth the money.”Īs a result, a growing number of consumers are now in play. ![]() Of the consumers who switched to cheaper products, 46 percent said they performed better than expected, and the large majority of these consumers said the performance of such products was much better than expected. The research, involving 2,672 US consumers, was undertaken in August 2009.įound that, in any given category, an average of 18 percent of consumer-packaged-goods consumers bought lower-priced brands in the past two years. ![]() ![]() Many companies with strong premium brands are anticipating a rapid rebound in consumer behavior-a return to normality, as after previous recessions. While the downturn has certainly changed the economic landscape, it may also have fundamentally altered the behavior of numerous US consumers, who are now learning to live without expensive products.
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