Switzerland buys price-consciously - demands for sustainability increase with age
In Switzerland, price is the primary factor influencing purchasing decisions. Interest in sustainability and fair production conditions increases with age and personal budget. This is shown by the market research study «Most Trusted Brands.».
The study was commissioned by Reader's Digest. Consumers' shopping behavior in Switzerland was also surveyed. The majority of the Swiss population pay attention to price first and foremost when shopping (57%), in French-speaking Switzerland the figure is as high as 68%. Almost one in two people attach importance to the fact that a product is produced fairly and humanely; the same applies to products from regional production (both 48%). From the age of 60, the interest in fair production conditions (57%) and regionality of the goods (59%) then comes to the fore. A short transportation route also has a positive influence on the purchasing decisions of survey participants with an income of CHF 8,000 or more (56%). In contrast, around a third of 18 to 29-year-olds (31%) do not care where the product is made.
Brand loyalty - a question of price? Not necessarily
At first glance, brand loyalty appears to be a question of price: 54% of survey participants find it unnecessary to spend more money on a branded product if there is a cheaper alternative. Nevertheless, around 57% of the men and women who responded admitted that they only buy certain products from a specific brand. These statements underline the importance of the survey results on brand trust communicated by Reader's Digest back in March: Swiss consumers remain loyal to their favorite brands even in turbulent times.
New brands have a hard time
30% of all survey participants opt for branded goods when shopping because they expect them to be of high quality. This view is again held primarily by the over-60s (38%) and people in the highest income bracket (37%). This expectation also appears to be much more widespread in German-speaking Switzerland (33% of respondents) than in French-speaking Switzerland (20%). In French-speaking Switzerland, the need for exclusivity is higher: 28% of French-speaking respondents would prefer a high-quality product from a lesser-known manufacturer in order to own something special (German-speaking Switzerland: 17%). Products from new brands, on the other hand, have a hard time in both parts of the country and across all age groups. Only 16% of all survey participants are interested in them.
To the "Most Trusted Brands" study by Reader's Digest
"Most Trusted Brands" is an independent study commissioned by Reader's Digest and has been measuring the brand trust of consumers in Switzerland every year since 2001. It is one of the most established and largest consumer studies and is recognized as a brand monitor. The approach of asking the brand question in an unsupported manner, i.e. without any brand specifications, remains unique. This year's study was conducted by the market research institute Dialego. This year, participants were also asked about their consumer attitudes and brand awareness. Around 1600 people evaluated statements on production conditions, purchase criteria and their subjective brand perception.
