Regional – APAC consumers are less likely to prefer local brands over larger global brands, a study by Nielsen said.
Only 38% of the respondents indicated their preference to purchase local brands, compared to 40% globally.
The survey polled more than 29,000 online consumers between 10 August and 7 September 2012 throughout Asia Pacific, Europe, Latin America, the Middle East, Africa and North America.
Furthermore, 62% of Asia Pacific consumers would rather wait for a new product or innovation to prove itself before making a purchase decision, with only 44% showed willingness to switch to a new brand.
More than half of online consumers in Asia Pacific surveyed said they prefer to buy new products from a familiar brand than from a new brand.
“In Asia, the preference for global brands versus local brands is two-fold. Although local brands are increasingly becoming premium, perception around quality remains an issue,” Therese Glennon, managing director of innovation practice in Asia Pacific, Middle East and Africa, said.
Nearly 81% of respondents said they trust word-of-mouth advice from family and friends on new product information. Internet search, ads on frequently visited websites and TV advertising are also main influences on consumers’ purchasing decision.
Glennon added companies who are shifting their focus to consumers in this region can choose to innovate on established, trusted brands.
“By focusing on unmet needs, creating a distinct solution, and developing a market-ready offer, marketers and manufacturers will create the best opportunity to succeed with consumers in Asia-Pacific,” Glennon said.