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2 April 2009
Taipei
With Taiwanese consumers’ confidence at a record low amidst a deepening global financial crisis, grocery shoppers are tightening their purse strings and becoming increasingly price driven, according to the latest ShopperTrends report released by The Nielsen Company.
According to the latest Nielsen ShopperTrends 2009 report released today in Taiwan, 62 percent of Taiwanese grocery shoppers claim to have become more price-sensitive, especially females over 35 and low household income shoppers – with around three in four of these respondents claiming to be more price sensitive when it comes to their grocery shopping.
Post Exchange appears to have successfully capitalized on this trend with its low price strategy, and as a result has grown in popularity as the channel where 17 percent of all Taiwanese shoppers spend the majority of their grocery dollars. Furthermore, on average, consumers increased their monthly shopping frequency to Post Exchange from twice to three times a month.
Hypermarkets, Supermarkets and Post Exchange: Value for Money and Low Price Now Very Important
‘The financial crisis and global recession have forced consumers to become more budget conscious and are seriously tightening their purse-strings. Providing “value for money” food and groceries and “low price” items have now become key criteria for consumers when choosing where to shop for groceries. However, the most important factor in 2007 - ‘convenient to get to’ - was down to fourth place in 2008 for hyper and supermarkets, and dropped to sixth for personal care stores. “Obviously, consumers are willing to travel further for lower priced groceries,” said Jennifer Wang, Managing Director, The Nielsen Company Taiwan.
Convenience Stores: All About Ready-to-Eat Food
Convenience Stores are another key channel for out of home eating, especially for office workers. According to Nielsen’s ShopperTrends report, ‘high quality ready to eat food and drinks’ and ‘delicious ready to eat food’ have become key considerations when choosing a Convenience Store. Nielsen ShopperTrends also reveals that providing ‘own brand products’ and ‘having a membership reward system’ are greatly appreciated by Convenience Store shoppers in 2008. As for Personal Care stores, Taiwanese consumers look for ‘easy to find what I need’ and ‘low prices for most items’.
High Loyalty for Vitamins and Face Care Products
It is clear that consumers are scrimping and saving, especially for specific categories. Consumers’ brand loyalty toward biscuits, snacks, shampoos and laundry detergents is low. Nielsen ShopperTrends shows that over 60 percent of consumers would ‘buy an alternative brand’ for these if their usual brands were out of stock. In contrast, when shopping for vitamins, 42 percent would rather ‘wait till it’s available’, and 36 percent claimed they would go to another retailer to find the brand they want. When shopping for face care products, about one third of respondents would either wait until their usual brand is available or buy in another store.
About Nielsen ShopperTrends
Nielsen ShopperTrends is the most comprehensive report on the grocery retailing and shopper environment in Taiwan. Nielsen ShopperTrends offers essential insights into the behavior, thinking and perceptions of shoppers in relation to how they choose their stores. It covers: relationship between trade sectors and shoppers, and key shopping decision influences. The Nielsen 2009 ShopperTrends was conducted from September 29 to October 27, 2008 among 1008 aged 15 to 65 respondents in Taiwan.
About The Nielsen Company
The Nielsen Company is a global information and media company with leading market positions in marketing and consumer information, television and other media measurement, online intelligence, mobile measurement, trade shows and business publications (Billboard, The Hollywood Reporter, Adweek). The privately held company is active in more than 100 countries, with headquarters in New York, USA. For more information, please visit www.nielsen.com.
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