IRISH CONSUMERS MORE LIKELY TO BUY PRODUCTS FROM FAMILIAR BRANDS
60% of Irish consumers with Internet access prefer to buy new products from a familiar brand, according to a new study from Nielsen, a leading global provider of information and insights into what consumers watch and buy.
The Nielsen Global Survey of New Product Purchase Sentiment surveyed more than 29,000 Internet respondents in 58 countries revealing underlying consumer sentiment toward new product innovations and shows that brand familiarity is one of several key characteristics that resonate strongly with consumers worldwide. In terms of new products, Nielsen’s evidence suggests about two out of every three products are destined to fail no matter where you operate around the globe. In fact, whether you live in Europe, India, Africa or the United States, Nielsen research consistently shows that while companies spend millions of euros on new product innovation, over half of all products launched will not sustain their year-one sales performance in year two, and the vast majority of new products disappear from the shelf within the first three years of their introduction.