Still more data confirming the battered state of the U.S. economy: U.S. consumers are more price conscious than shoppers in other countries — even when their health is on the line.
According to a global survey conducted by Nielsen and the Association of the European Self-Medication Industry (AESGP), U.S. consumers place more importance on price and value when choosing over-the-counter (OTC) medications than consumers in other countries throughout Europe, Asia Pacific, North America, and the Middle East.
Thirty percent of U.S. consumers consider price to be important when choosing OTC products, while only 17% of global consumers do, Nielsen reported. Only Japanese consumers place more importance on price (33%).
And while just 15% of global consumers consider whether the product is a good value for money, one-quarter of Americans consider this factor being purchasing an OTC medication.
“With increasing medical costs and a fragile economy, the U.S. consumer is more price and value centric than ever,” Matt Dumas, managing director, NielsenHealth, noted. “These findings highlight the rising importance of generic drugs in the U.S. market, which is underscored by low OTC product loyalty scores versus global markets.”
Nielsen’s Global Online Consumer Survey was conducted in April and May 2008, among 28,253 Internet users in 51 markets in Europe, Asia Pacific, North America, and the Middle East.
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