Retailers considering global expansion should focus on international customers’ shopping attitudes and behaviours rather than where they live, according to an Ipsos-Reid study released Wednesday.
The study found that the country of residence of a consumer was not a strong factor when classifying global consumers into different categories. Rather, the results from the consumer survey conducted in 23 countries identified five common types of consumers for packaged goods regardless of where they live.
“Shopping styles transcend geographic boundaries,” said Gill Aitchison, president of Ipsos Marketing, global shopper and retail division. “Cross-country patterns can help marketers adopt a multinational strategy based on common shopping traits.”
Globally, nearly two-thirds of all respondents were primarily focused on the cost of goods. About 23% were defined as price driven, people who make up a shopping list, compare prices and go out of their way to find stores with the lowest prices.
About 17% were called responsible planners, shoppers who have a fixed budget and always compare prices. A quarter of consumers surveyed were considered bargain hunters, shoppers looking for a deal, but are relatively impulsive buyers.
The remainder of respondents consisted of less restrained consumers. About 19% were called brand lovers, people who were willing to spend money on brands that may be more expensive than lower-cost alternatives. These types of shoppers were more influenced by store staff and placed a greater value on convenience than any other consumer segment.
The remaining 16% are indulgent consumers, the most impulsive group attracted to new products and most likely to choose a good tasting product over a healthy one. They were the most likely to spend more to save time and do not mind paying more for branded products.