We recently interviewed 14 consumers between the ages of 20 and 60 years old. Our conversations ranged from a discussion on their latest purchases to whether or not the recession has impacted their loyal to certain brands to whether or not they are still buying green. Here is what we heard.
Gone are the days of spontaneous purchases and brand loyalty is starting to wavier
We wanted to know what consumers where buying, so we asked them about the most recent purchases and whether or not that purchase was planned or spontaneous. Purchases are planned – here is what consumers are buying:
“Two vintage jackets at a swap meet in Pasadena for $10 each and a pair of sunglasses that were planned for about $200.” Aaron, 24, Allston, MA.
“I just bought 2 new pet gates, and it was very planned. The purchase was delayed until funds were available. Cost = $150. The third item was a book, and it was planned also. Cost = $7.” Lisa, 44, Rochester, NY.
“The last three things I purchased were a monitor for work, a car and an aquarium.” Joe, 27, Allston, MA.
“I bought some dress shirts, Nike dunk sneakers and Freedom Trail tour tickets for my friends who are coming to visit. All were planned purchases. I spent ~$30 a piece on the dress shirts, $68 on sneakers and $27 for the 3 tickets.” Jacob, 25, Sharon, MA
All consumers we spoke to admit that brand loyalty is most certainly wavering and most are actively choosing price over brand name when making purchases. We asked consumers if what factored into their purchase decisions and whether or not they were still buying their favorite brands or if price was playing a greater role in their purchase decisions?
“I guess most of my purchasing is in the way of groceries! Not very exciting, however, that’s what my answers will be based upon…. I tend to shop for the best bargain. I’m finding that the quality of most items isn’t that different from the name brand and the cost is significantly less.” Kathy, 54, Rochester, NY.
“Brand loyalty is still important however judging by the higher than expected earnings of Wal-Mart and similar "bargain" companies we can assume at least a temporary shift in priority to cost based purchases.” Justin, 24, Boston, MA
“Brand loyalty is definitely wavering. Most people I know, including myself are no longer loyal to our favorite brands because price has become the most important purchasing influence.” Iona, 32, Rochester, NY
Going Green
Consumers are a little bit mixed about buy green (i.e. organic or all natural). Some consumers believe that buying green is just too expensive while others believe that it is worth the added cost.
“Organic is usually way too expensive…. If it’s on sale, I’ll buy it, but normally the price is way out of line. Also, how do I really know if it is ‘organic’ or ‘green’, maybe it’s just a meaningless label….I’m way too skeptical….” Kathy, 54, Brockport, NY.
“Strictly cost. If it is cost effective and green, GREAT! If the price is a little more, I will not pay the extra.” Holly, 37, San Francisco, CA
“Natural/green products are important to me because they are just better for you and the environment overall. I try to buy organic food when it is available…I am willing to pay a little bit more for organic food and cleaning products because I think it is my little way of doing my part.” Christina, 20, Boston, MA
“Price is still winning vs organic, but not by as much as brand loyalty. If the prices were not too different, I would pick organic.” Lisa, 44, Rochester, NY
Thursday, March 19, 2009
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