42% of global consumers switch brands to try new things

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.”

Read the original article

[2 minute read]