Consumers have long been thought to be deeply loyal to their consumer packaged goods (CPG) brand of choice. But new research shows that when offered a cheaper or equal quality alternative to their normal brand, consumers can be enticed to spend their money elsewhere.
In fact, promotional marketing service provider YA found that 85% of US internet users would try a new CPG brand if offered the product for free or at a discount.
However, discounts seemed to hold little sway over consumers when it came to food. In fact, just 9% said they made a food purchase decision primarily based on an offer or discount on the product.
Taste and quality trumped all other considerations, with 45% of respondents naming it as the primary driver of a purchase. Price was the most important influencing factor among 30% of respondents.