Consumers are beginning to value features as much as low prices when it comes to acquiring new consumer electronics, according to research into the shopping habits of the UK consumer from Gekko Field Marketing.
Cost consciousness across all shoppers has dropped by 7% on last year’s ‘Shopper Tribes’ study, with brand status showing a 5% increase. Gekko says that this indicates that shoppers are growing increasingly confident in retail, with cutting costs less of a priority than last year.
Cost consciousness also decreased in the electronics category, with 48% of respondents citing ‘value for money’ as their main reason for staying loyal to a brand, a 4% reduction from last year. In comparison, 47% of respondents prefer a ‘functional’ device which works well for them, and 22% shop based on brand alone. The research indicates that brands themselves are becoming more important to the electrical category, with both brand status and product function becoming more influential than price.
Compared to retail as a whole, shoppers are far less cost conscious when purchasing electrical goods, rather they are more interested in function and brand status, the study claims. Brand loyalty is also very low in the electronics category, indicated by the low amount of ‘Habitual Shoppers’. Brands have the opportunity to capitalise on this change in consumer behaviour by supporting their products in-store. By extending their ATL campaigns in-store with merchandising, and by educating shoppers on the benefits of their products by using trained brand ambassadors, brands can guide shoppers through their in-store journeys, transforming them from shoppers into customers, Gekko adds.