BOGOF Offers Most Likely To Convince Consumers To Switch Brands
Published on Apr 20 2015 3:38 PM
According to the latest Consumer Insights report from Empathy Research, four-fifths (80%) of consumers admitted they would be most likely to be encouraged to switch brands by a 'buy one get one free offer'.
The survey, which consisted of 996 adults, also highlighted ‘50% extra free’ (66%), ‘3 for 2’ (50%) and ‘multi-packs’ (34%) as the other promotional tools that would be most successful in convincing consumers to change brands.
Breaking the figures down by age groups, those aged over 35 are more likely to be swayed by ‘50% extra free’ offers, with 68% of 35-44 year olds, 75% of 45-54 year olds and 66% of 55+ year olds citing they would consider switching brands if they saw an offer for ‘50% extra free’. This compares to only 55% of 18-24-year-olds and 63% of 25-34-year-olds.
Meanwhile, younger age groups, especially those aged 18-24 years, are more likely to be influenced by ‘round euro pricing,’ compared to older age groups; 18-24 years (26%), 25-34 years (17%), 35-44 years (12%), 45-54 years (13%) and 55+ years (8%).
Interestingly, if a grocery brand offers ‘multi-packs’, those with children living in their household are significantly more likely to be swayed to switch brands (39% with children vs. 31% no children).
Similarly, those with children in their household (48%) are significantly more likely to switch to a different brand if it is available on ‘special offer’, while those without children (37%) appear more likely to consider other factors before making their decision.
When it comes to grocery shopping, the price and/or value of a product has a heavy influence on Irish consumers. Two-fifths (41%) cited that they would switch brands without hesitation if another brand was available on ‘special offer’.
© 2015 - Checkout Magazine by Niall Swan