Delegates at the Checkout Conference, which took place on 5 February at the Four Seasons Hotel, Dublin, in association with Rabobank, have said that 52% of Irish shoppers 'try to save as much money as possible' when shopping.
In an audience vote, 37.4% of delegates, comprised of more than 200 top level executives from FMCG and retail businesses, said that consumers are 'prepared to spend more, but only in certain categories'.
A further 4.9% said consumers are 'prepared to spend more, but don't feel I can get value for money.
The theme of the 2013 Checkout Conference, in association with Rabobank, was 'Brands At The Crossroads', and examined the challenges facing grocery brands in an increasingly competitive marketplace.
Speakers on the day included Fiona Dawson, President, Mars Chocolate UK, on the theme 'Brands: How To Take The High Road', JP Donnelly, Chief Executive of Ogilvy Ireland on the subject 'Creating A New Roadmap: Redefining Advertising's Role at the Brand Crossroads', and Colin Gordon, chief executive of Glanbia Consumer Foods, who spoke on 'Winning Brand Strategies in a Challenged Marketplace'.
In addition, a dedicated discussion panel examined the exponential growth of the private label industry in Ireland, looking at the opportunities presented by own-brand, and how brands are 'fighting back' for grocery market share. Other questions put to the audience included:Q1. How Optimistic Are You About The Coming Year?Very Optimistic 19.3%Moderately Optimistic 63.9%Moderately Pessimistic 13.4%Very Pessimistic 2.5%No Comment! 0.8%Q2. What do you think is the biggest challenge facing brands in the current retail environment?Too Much Focus On Value 31.3%Competition From Private Label 34.8%Competition From Rivals 8.7%Not Enough NPD/Innovation 21.7%Lack Of Expertise 3.5%Q3. What do you think best sums up the mindset of the Irish shopper at present?I try to save as much money as possible when shopping 52%I am prepared to spend more, but only in certain categories 37.4%I am prepared to spend more, but don't feel I can get value for money 4.9%I only buy the best where possible 5.7%Q4. So much focus is being placed on price these days - do you think this focus is stifling new product development among brand manufacturers?Yes, absolutely 14.2%Yes, but NPD is still important 59.1%Not really 22.0%Definitely not 4.7%