Continue to Innovate and Play Online
More than half of Australian households remain with online shopping with frequency increasing year-on-year. Online is especially appealing for younger households and families that seek convenience and show no signs of slowing down.
Innovate. Innovate. Innovate. Almost two-thirds (63%) of consumers say they would purchase a product that has been innovated to make it as affordable as possible. Sustained innovation supports the bottom line and boosts overall growth during times of volumetric slowdown. Sustained innovation enables companies to break through:
Manufacturers growing innovation sales were 1.8 times more likely to grow overall sales.
However, it's not only about price, but about the value equation: positioning yourself as the consumer's top choice through a unique value proposition can underscore your superiority in the market. Ensure your product range delivers value, alleviating ongoing consumer pressures; fine-tune pricing and promotions accordingly.
What motivates you to purchase online?
75% Convenience
49% Easy to see promotions on items usually bought
45% 24/7 Access
45% Ability to Click and Collect without delivery charges
Which of the following prevents you from buying groceries online?
51% Extra charges
51% Enjoy in-store experience
49% Product Examination
44% Concerns on product quality (expiry dates, freshness)
75% say that Convenience is what motivates them to purchase online, but there is also a component of being easy to look for promotions and the ability to Click and Collect without delivery charges, which is appealing for the shoppers who are managing their budgets more carefully.
