How do consumers in the UK and Ireland decide their supermarket choice? With more competition than ever, the battle for market share on both sides of the Irish Sea is intense. But it might surprise you to learn that offering the lowest prices isn’t always the best way of getting ahead of your rivals.
New research from Nielsen paints a different picture. More than 30,000 people across 61 countries took part in the Global Retail-Growth Strategies study. And it’d seem that UK and Irish shoppers are more concerned with product availability when making their supermarket choice!
Supermarket Choice: Focus On Products, Not Pricing
In the UK, 55% of shoppers said that product availability is “highly influential” in their supermarket choice. In Ireland, the number is even higher at 60%. In fact, four of the top five factors are related to products, convenience and quality. The lowest prices? Well, that’s only sixth on consumers’ list!
Of course, British and Irish shoppers do rank value for money as an important factor. But surely the conclusion from this survey is that supermarkets don’t need to be the cheapest to attract shoppers. Instead, offering high quality products that are regularly in stock is what can prove most effective.
Nielsen UK’s 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.”
The approach you follow has a significant impact on how many consumers make you their number one supermarket choice. If taking a more strategic view is a priority for your business, let our team help. After all, our retail sector expertise gives us a huge depth of knowledge for you to draw upon.
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