Pi Attitude Zone: Material Status
¿Ees New? ¡Caramba! I Mus’ Have Eet...
What price novelty? When out shopping, how likely are consumers to squeal delightedly “Ooh, that’s new!”… and how prepared are they to pay extra for the goods in question?
Attitudes depend, apparently, on where in the world you are.
Nielsen research asked a sample of just under 30,000 people, spread across 58 countries, and grouped the results by region. It turns out that the world’s top novelty-hunters mostly speak Spanish. People in Latin America are 30% more likely than the average consumer to get all excited when manufacturers launch new products or line-extensions into their brand portfolios. Novelty appealed to 80% in LatAm, compared to 63% worldwide.
The Spanish conquistadors called the Americas the New World. It seems it’s still the ‘World of the New’. Most Latin Americans not only liked the idea of newness in a product, but were the most likely (56%) to say they were prepared to pay a premium for the novelty factor.
Adherence to local brands also was noticeably higher in North America (47% preference, according to Nielsen) than the rest of the Americas (only 42%).
Pi says: if it’s a new product, its best chances will be to the south of the US border... especially if it’s imported.Zone: Material Status Country: Latin America Product – Consumer Products