Cynical consumers keep premium brands honest

Cynical consumers keep premium brands honest

Australian and New Zealand (ANZ) consumers pose a challenge to luxury and high-end brands with only 26% of Aussies and 17% of Kiwis willing to forgo cheap unbranded products for designer goods.

B&T Magazine
Posted by B&T Magazine

Fame also fails to woo Australasian consumers; only 32% of Australians and 31% of New Zealanders said they like to buy products from famous brands, according to Nielsen.

 This compares to the global average of 47% and Asia Pacific’s 55%.

ANZ consumers are less susceptible to marketing, as only one-third said commercials increase their brand preference compared to 55% globally.

When purchasing products local shoppers need to feel they are obtaining value, according to Suzie Dale, head of Nielsen Pacific’s Brand Practice.

“We tend to have a cynical side when it comes to advertising and branding, and like to see ourselves as ‘intelligent shoppers’ who aren’t won over solely by marketing claims but instead buy a product based on merit and the value it offers,” Dale said.

“The rise of private label goods in our supermarkets underpins this requirement – we generally need to believe a more expensive product will offer a tangible quality that makes it better, otherwise we’re often unwilling to pay more for it.

Premium brands need to work harder in Australia and New Zealand and must deliver on their marketing promises.

“Status cues alone will fall short and instead premium brands need to communicate deep insight into purchaser’s lives,” Dale added.

“A product needs to show it will enhance a consumer’s life and is the ‘intelligent choice’ – for example a tastier cake, or a car that is luxurious but also uses less fuel and will look good for longer.”

The Nielsen Global Consumer Survey was conducted between August 10 and September 7, 2012, and polled more than 29,000 online consumers in 58 countries throughout Asia-Pacific, Europe, Latin America, the Middle East, Africa, and North America.

Source: Nielsen Global Survey

Source: Nielsen Global Survey

Source: Nielsen Global Survey