A year later, when we thought it’s about time Egyptians settled for adapting to their post-inflation purchase power, they definitely didn’t!
30% are currently not satisfied with brands they are currently purchasing, 46% are satisfied to some extent, while only 24% are very satisfied with brands they are currently purchasing.
Opportunity Alert: This means that 76% of consumers are, at this very moment, STILL in the consideration stage in their purchase funnel, opening great opportunities for brands to be the first to capture the newly defined consumer fast, before they stop searching, and start settling on their new purchase choice.
Then again, with every opportunity for brands to at least maintain the current share of wallet, there is a very thin line that makes it or breaks it, which unfortunately most brands are not careful with now.
In our last published qualitative insight, we’ve seen how consumers are angry at brands for distorting the trade off between quality and cost, making them search for alternatives to brands they were originally loyal to.
The more insights we derive to publicly share, the more we realise how critical it is to call out for brand managers on the the importance of testing brand decisions fast, before taking action.
It’s not just about saving the brand anymore, it’s about identifying the growth opportunity now, because a little later will be too late.
Chances Are, If You Aren’t Getting to Market First, Your Competition Is
Suggested Action: Product Testing to identify where is the line between the “Good”, the “Bad”, and the “Economic”? Most importantly, where is the balance between reducing cost, and increasing prices?
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