Globally, 39% of consumers consider value for money as the main factor in choosing brands.
Nielsen’s Global Consumer Loyalty study revealed that about 49% of consumers would switch brands to experiment but they prefer sticking with the brands they like. 42% of those surveyed said that they switch brands to try new things.
The research highlighted that 36% of US consumers and 33% of those in Europe are likely to switch brands. For 39% of respondents, value for money predominantly influences their choice of brand. This is followed by quality at 34%, price at 32% and convenience at 31%.
Only in Asia Pacific do consumers (42%) consider quality as the top factor influencing their brand choice. Joe Ellis, Senior Vice President at Nielsen Consumer Insights said that brands must actively address “disloyalty in the marketplace.”
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