The Price is Right
While in 2013 only 44% of Swiss consumers stated that they knew the prices of the products they needed for their daily needs, 4 years later in 2017 this figure had risen to 52%.
In the booming convenience channels (including petrol station shops), on the other hand, the price awareness of the Swiss is not yet so pronounced: When it comes to convenience, accessibility and convenience seem to be more important to consumers than price. In 2017, 22% of Swiss consumers stated that they were even willing to pay a higher price if they could save some time. Convenience channels have probably also recognised this.
For example, Nielsen's price monitoring across eight convenience channels shows that the average price for the identical product can vary by +/- 22%. It becomes particularly interesting when comparing the individual product groups: Within the confectionery and snacks category, the price difference for the identical article is only +/-10%. In the case of soft drinks, on the other hand, the biggest price difference is seen. For example, the shelf price of an identical bottle of water can fluctuate by up to +/-41% depending on the convenience channel.
Do you know how the effective shelf prices of your competitors change over the year? Do you know the actual differences in varieties, channels and regions in shelf prices? Do you regularly check the implementation at the POS?
If you have any questions about the Nielsen Price Monitor, please contact your Nielsen team.