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Smart Insights: Consumer Goods

The number of touchpoints between brands and consumers is increasing at an unprecedented rate. Consumers are seeking richer retail experiences, rather than simply acquiring new products. There is also an intense competition for loyalty.

To be successful, consumer goods (FMCG, domestic appliances, home and living) companies need a comprehensive understanding of what is driving consumer choices and experiences at every touchpoint.

GfK's consumer goods research and insights illuminate the trends behind today's market realities and tomorrow's consumer demands.

Fast Moving Consumer Goods

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Latest insights

Here you can find the latest insights for consumer goods industry. View all insights

    • 11/15/18
    • Fashion and Lifestyle
    • Financial Services
    • Industrial Goods
    • Media and Entertainment
    • Retail
    • Technology
    • Travel and Hospitality
    • Automotive
    • Consumer Goods
    • Energy
    • Geomarketing
    • Geodata
    • Picture of the month
    • Global
    • English

    Map of the Month: GfK Purchasing Power, Europe 2018

    GfK's Map of the Month for November shows the distribution of purchasing power across Europe in 2018.
    • 11/14/18
    • Retail
    • Technology
    • Consumer Goods
    • Global
    • English

    Go Beyond Point of Sale Data: Understand the Moment of Purchase

    Truly understand the every factor that influences consumers’ final decision at the moment of purchase. To make optimal decisions about product selection, retailer and manufacturer partnerships, and marketing, retailers and manufacturers in the technology and consumer durable sectors both need a holistic view of point of sales data and consumer behaviour. Having looked at how our GfK Consumer Journey solution helps brands to understand how consumers research a purchase in my previous post, I shall now turn my attention to the insights it offers into the moment of purchase. Brands want to know where, how, and why consumers purchase products, so that they can make smart decisions about retailer partnerships, product selection and development, and marketing and promotions. Retailers, meanwhile, need to understand how they are performing in different channels (in-store and digital), as well as which brands and models sell best and why. Manufacturers and retailers alike also want insights into competitor performance and partnerships. Powered by the GfK Consumer Insights Engine, GfK Consumer Journey offers technology and consumer durables manufacturers a full view of the online and offline consumer purchase journey. This enables them to answer key business questions such as: Lost shoppers: How many shoppers did we lose during the purchase journey and what is the size of this lost opportunity? Who are these shoppers? Which competitive brands or retailers did we lose out to and why? Partnership opportunities: Which retail or manufacturer brands should we partner with? Which retailers or brands could offer access to unique customers? Which competitive brands or retailers attract the same consumer profile as we do? Channel conversion: What are my channel conversion rates? How can I improve them? What role does each channel play in the consumer journey? As a subscriber to the Consumer Journey module, you can use the Consumer Insights Engine to get instant access to insights that will allow you to answer your key business questions. To provide you the data that leads to trusted and actionable consumer insights, we seamlessly integrate multiple data sources into this advanced analytics platform: global sales data*, consumer research, behavioural data, and AI-enabled review data. The data visualized below is pulled from a cross-market analysis of the TV category using the Consumer Insights Engine and is used to answer many important questions our clients are asking about the moment of purchase. (Source: Consumer Insights Engine Consumer Journey, Q1 2018 data for the TV category in multiple markets)   As the data above illustrates, our solution provides a coherent view of – and granular detail about – the consumer’s purchase journey and the factors that influence his or her final purchase decision to equal granularity across participating markets. For a multinational manufacturer operating in multiple markets across Europe it is interesting to know that, when compared to France, a high number of recent TV purchasers in the Netherlands purchased a 4K UHD TV. This data informs the marketing team that messaging around this feature should resonate in this market. When this data is coupled with data identifying that 724,661 TVs were sold in this period in the Netherlands (fig2), it can begin to inform other business units within our clients’ organisations, such as supply chain and logistics. This total market view of units sold is achieved through our calibration with actual point of sales data*. Fig2. (Source: Consumer Insights Engine Consumer Journey, Q1 2018 data for the TV category in multiple markets)   Taking a look at brand loyalty in the UK is another practical example of the value of insights derived from this data. Understanding how little brand loyalty consumers in the UK have compared to other major markets might prompt a manufacturer to focus its efforts on new customer acquisition rather than retention in this market. Our solution covers 13 major markets – France, Germany, Italy, Netherlands, Spain, UK, US, Brazil, Russia, China, India, Japan, and South Korea. Thus, multinational brands can not only get insights into national markets, but also compare brand performance and consumer behaviour across multiple territories. Check out our online Consumer Insights Engine demo to understand more about how it works against specific business questions. Find out how to get actionable business insights at speed that go beyond point of sale data and help you get inside the mind of your consumers. Note: *In the US, GfK does not have access to Point of Sale data. US data is calibrated using information gathered from a telephone survey based on probability-based sample representative of both mobile phones and landlines. No retailer data is used in the development of the US offering.   hbspt.cta.load(2405078, '90c9c4fb-2c91-4f37-92cc-9cfd9b27e028', {});
    • 11/07/18
    • Retail
    • Consumer Goods
    • Global
    • English

    Beyond Point of Sale Data: Search and evaluation in the consumer journey

    Getting insight into which touchpoints drive the best ROI for your brand

    To maximize their performance in today’s competitive retail landscape, brands need a single, accurate view of the market with instant insight into consumer purchase behavior. In my second post in this blog series, I’ll look at how the GfK Consumer Journey solution delivers that and enables brands to understand how consumers do their research when they buy a new product. My previous post looked at the purchase triggers in the UK television sector as an example of the insights brands can get from the GfK Consumer Journey module of the Consumer Insights Engine. This time, I’ll look at how the solution can give brands accurate, actionable information about how and where consumers research and evaluate their options when they are looking to purchase a new TV. Our Consumer Journey survey data reveals that the majority of television buyers in the UK do their research online. Most of them visited major retailer websites during their purchase journey – the most popular among TV purchasers were Curry’s (63%), Argos (56%) and Amazon (49%). (Source: Consumer Insights Engine Consumer Journey, Q1 2018 data for UK TV market) Perhaps that’s not so surprising, but our numbers also show that in-store touchpoints still play a major role in the purchase journey. More than half of TV purchasers visited a physical store to research their new TV. Of those who researched their options online, 57% made their purchase in-store. What’s more, in-store visits have higher conversion rates than online channels. Around 82% of people who went to a store bought a television in-store, while only 42% of those who searched online made a purchase online. (Source: Consumer Insights Engine Consumer Journey, Q1 2018 data for UK TV market)  Even in a digital age, in-store advertising and displays play a major role in driving sales, but as our consumer journey insights research shows, this does differ somewhat by brand. This sort of insight is invaluable to marketing teams in optimizing their online and offline marketing and advertising channel and touchpoint investments throughout the consumer journey. They will know which channels and brand/product touchpoints consumers use during their search and evaluation of new products, helping them to make better decisions about campaign execution. They can also see which consumers considered their brand but bought something else, and why they made that choice. We will look into why consumers in this market purchase products in my next blog post. These insights enable brands to plan ahead and improve conversion rates amongst lost shoppers. Product category managers and operations departments, meanwhile, can learn about where consumers are researching and buying product, so they can make better stocking decisions. In the new year, we introduce online passive behavioral data to the Consumer Journey module. The introduction of this data will allow visibility of device use, search terms, touchpoints, sites visited and more. This will provide brands an even more granular view of consumer’s online behavior during the purchase cycle. One way in which GfK Consumer Insights Engine is unique is that it provides all of these insights in a single platform. This eliminates the need for multiple data and insights suppliers and provides a coherent view of your consumer’s purchase journey. I encourage you to try our online Consumer Insights Engine demo to understand how it works in practice and how it could help you make smart, rapid decisions. hbspt.cta.load(2405078, '913e3119-dbb9-4e7b-a55d-3ac28ab5553a', {});
    • 10/30/18
    • Retail
    • Technology
    • Consumer Goods
    • Global
    • English

    Beyond Point of Sale Data: Which consumer needs trigger the start of the purchase cycle?

    Key insight: UK consumers replace tech products long before they’re broken or obsolete

    Point of sale (PoS) data tells you what consumers buy as well as when and where they make their purchase. When you calibrate this data with actionable consumer insights, you can maximize its potential by understanding who the purchasers are, how and why they make their buying decisions, and answer questions like:
    • What triggers a consumers’ need to purchase?
    • What proportion of consumers are upgrading a working product and what proportion are replacing a faulty product?
    • Which marketing channels are consumers receptive to at this early stage of the purchase journey?
    This is the level of high-impact insight you can get from the GfK Consumer Journey module of the Consumer Insights Engine – the only solution that provides a full view of the online and offline consumer purchase journey for the technology and consumer durables industries. Our solution takes you beyond PoS* by combining sales data with market research, online consumer behavior data, and advanced analytics in a single interface. Over this series of blog posts, I’ll look at practical examples of how this new solution brings brands closer to their customers, allowing them to understand the story of a customer’s purchase from the realization of a need up to early usage. We’re looking at how customers in the UK start on the road to buy a new television in this first post in the series. Let’s start by considering the purchase triggers for television shoppers in the UK. Most UK television purchase journeys begin because customers want to upgrade their TV or buy an extra unit for the home, not because they’re replacing a faulty product. By contrast, in Germany, more than half of new TV purchases replace a broken product. What’s more, some 12% of UK TV purchasers are acquiring a new television to replace one that is two years old or newer. Interestingly, this dynamic is present in other segments of the UK consumer durables and tech market. Some 12% of new dishwasher purchases and 10% of washing machine purchases replace functional products that are not older than two years. Clearly, the typical UK consumer is proactive and ready to seek a newer and better product long before the existing one breaks or becomes obsolete. As we can we see from this data, major tech and durable purchases no longer necessarily have a long lifespan in the UK consumer’s home. To capitalize, brands need to dig deeper to understand which consumers are happy to replace large appliances at regular intervals and the factors that prompt them to make a new purchase: In the markets we track, UK TV purchasers are among those that are most receptive to inspiration from marketing materials, even when they are not actively seeking to replace a product. This opportunity is nearly as large as the market of consumers who buy a new TV because they are dissatisfied with their current model. Brands should not ignore this. The effect is especially strong with people aged 25 to 34; some 34% in this group are spurred to upgrade by stimuli such as advertising. To make this insight actionable, we need to get more specific. For instance, we might want to know which touchpoints are best for reaching 25 to 29-year-old consumers who might be persuaded to upgrade to a 4K 65-inch television. Among UK shoppers looking to upgrade TVs rather than replace faulty units, 43% reported that in-store displays are their biggest inspiration. This indicates that even in a digital age, you still need a presence in the high street. Using the Consumer Journey solution, we could quickly identify several key insights that any player in this category can act on, including: • Around 10% of UK consumers are highly proactive, and ready to actively replace products within two years. • Consumers can be inspired to upgrade by strong above-the-line marketing. • When purchasing a new TV, brick-and-mortar stores are still a dominant influence in the decision-making process. These insights can be distributed to the relevant business functions to inform tactical and strategic planning processes, where they can make a difference to category performance. My next blog will drill deeper into which specific touchpoints consumers interact with when they are looking for a new TV and which are most influential. In the meantime, try our online Consumer Journey demo to discover how we can help your business to make faster, smarter decisions. Note: *In the US, GfK does not have access to Point of Sale data. US data is calibrated using information gathered from a telephone survey based on probability-based sample representative of both mobile phones and landlines. No retailer data is used in the development of the US offering. hbspt.cta.load(2405078, '089889a1-c348-4e02-8b9d-21795232e81d', {});   Note: *In the US, GfK does not have access to Point of Sale data. US data is calibrated using information gathered from a telephone survey based on probability-based sample representative of both mobile phones and landlines. No retailer data is used in the development of the US offering.
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  • Consumer Panels

    Consumer Panels

    Your business is all about your consumers. So understanding them is essential in ensuring your products and services meet their needs, and in identifying opportunities for growth.

    Our international consumer panel data and research expertise provide you with smart customer insights into who your consumers are, their attitudes and behaviors, across channels.

  • Point of Sales Tracking

    Point of Sales Tracking

    Retailers and manufacturers are under pressure to develop products and services that maximize sales and profit and to keep customers coming back.

    Success relies on having the most up-to-date sales data, combined with robust analysis to understand which products and services are performing well in the market – and which are not. With this information, clients can set clear strategies for commercial growth and increase return on investment.

  • Shopper

    Shopper

    Digital continues to open up new paths to purchase, changing how and where people shop. More and more data becomes available every day, as shoppers embrace multi-channel brand experiences. To stay competitive in this big data, multi-channel environment, businesses need to identify and leverage the most relevant data along the entire path to purchase. 

  • Geomarketing

    Geomarketing

    Our geomarketing solutions and consultancy provide our clients with smart insights into location-specific factors that impact the success of business sites, shops, sales territories, target groups, as well as chain store and distribution networks.

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