Things You Didn’t Know Impact Customer Buying Decisions
How does a customer really choose between Squid or Tiparos fish sauce? The reason may be more complex than initially thought! Read on about some of the factors that can influence customer buying decisions and how they relate to Asian food brands.
Factor #1: Brand familiarity and nostalgia
Over half (55%) of customers in the Asia Pacific region are likely to stick with familiar brand products over new brands, and 62% will wait until a new product or innovation has proven itself before choosing it over one they know. We seek out the familiar, trustworthy brands that we know offer good quality. This is why it’s so important to think about your customers and their communities. By stocking brands that are familiar to them, you increase the chances of that product being purchased. Asian food brands such as Amoy, Mae Ploy and Mama have excellent brand recognition across Australia and New Zealand.
Factor #2: The amount of choice you provide customers with
Choice is very important to customers, but too much can confuse and overwhelm people. The results of several surveys show that people seek simplicity in their shopping experience and want to be guided in their decisions. For food brands, this might mean providing a choice of two or three brands that are familiar to the customer but are also distinctly different. Some people might prefer a soy sauce that is low in cost, for example, while others may be looking for one that is naturally fermented. In-store advertising and helpful staff can also assist customers in making their decisions while instore.
Factor #3: Where the product is placed instore
It’s believed that around 82% of product decisions are made at the store rather than planned beforehand. That means instore factors such as placement, branding and brand advertising can be highly important. If a shelf is understocked, this can actually affect the customer’s likelihood of buying familiar brands, so keeping shelves filled and looking tidy is important. Even adding space around premium products can make customers more likely to desire them! It’s a very good idea for supermarkets and grocery stores to try out different positioning for their products, to use instore advertising and promotions to draw attention to product benefits and to encourage spontaneous purchases that can bring up the average basket price for the store.