MANILA – Filipinos are among the most likely globally to try out new products on their next grocery trip but from brands they’re already familiar with, a new survey from Nielsen found.
Close to cconsumers (68%) say they purchased a new product during their last visits to the groceries– 11 percentage points higher than the global average of 57%.
However, 78% of Filipino consumers prefer to buy new products from familiar brands while 77% like it when manufacturers offer new product options (compared to 62% globally).
“A brand name provides an assurance of quality and lends credibility to its effectiveness. Line extensions create confidence in a new product’s ability to deliver against promises,” shares Stuart Jamieson, managing director of Nielsen in the Philippines.
“However, for new products that are launched without the advantage of a strong brand name, extra care is needed to provide a strong promise which underscores that the product provides good value for money.”
Television advertising plays is a chief source of information about new products, with 21% of Filipino consumers tuning in. Recommendations from family and friends ranked second with 14%.
New product trials are strongly influenced by online content, with 10% ranking social media posting, 9% active internet searching, 6% internet ads (tied with recommendations from a professional or expert), and 4% internet forum/message board as key influencers.
“As we see the changes in the media landscape, the sources of information of consumers likewise evolve. We are now seeing a rising reliance on earned media such as social media postings, active internet searching and internet forum alongside with recommendations coming from family and friends, and experts.
Despite their enthusiasm, 34% of respondents, affordability has the biggest influence on their next new product they’ll try out. On its heels are convenience (32%) and recommendation (31%).
Affordable products has also been identified as an emerging new product demand trend (59%), followed by healthy products (46%) and products that are convenient to use or made with natural ingredients (38%).
“Getting the price right and providing convenience to consumers who are now mostly time-strapped reverberate well. Savvy marketers who are able to inject these in their product development can count on the satisfied Filipino consumers to be their ambassadors among their family and friends offline or online,” emphasizes Jamieson.
