Low Prices 'Not A Driving Factor For UK Supermarket Shoppers', Study Finds
According to Nielsen’s Global Retail-Growth Strategies Survey, British shoppers are driven by product availability and convenient location over low prices.
The survey polled 30,000 online participants from 61 countries and revealed that 55% of British shoppers choose where to shop based on the products they want stocked regularly.
Shoppers also listed a convenient location as being a key factor (52%) when choosing a retailer, followed by value for money (47%).
UK consumers list product range and quality as relating to four out of the ten most influential factors, with three relating to price and convenience. Lowest price ranks at sixth (39%) in relation to influence, making it even less of a factor in the UK than in Europe (47%), or globally (48%).
Nielsen’s UK head of retailer and business insight, Mike Watkins said: “ These findings are good news for supermarkets as it demonstrates the opportunities to take a broader, more strategic view about their offer and not to be so focused on price, which can often be a short term reaction to competitive pressure.”
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Aoife Lawless. To subscribe to ESM: The European Supermarket Magazine, click here.