Research: Brand beats price as purchase motivator
Consumer research from the NPD Group shows brand trumps price as a purchase motivator for the hand tool category in each of the three major age groups.
As the chart below shows, the 35-to-54 age group emphasized trusted brand more than the older or younger age groups. The 18-to-34 age group was more price conscious than the other groups. And the 55-and-over segment placed a premium on products that "had the features I wanted.
| Purchase motivator | 18-34 | 35-54 | 55+ |
|---|---|---|---|
| It's a brand I trust | 38.3% | 46.7% | 40.8% |
| Price | 33.7 | 30.0 | 32.7 |
| On sale/promotion | 20.8 | 18.8 | 18.7 |
| Had the features | 14.8 | 15.9 | 25.2 |
| Warranty | 10.3 | 9.0 | 6.5 |
source: The NPD Group Inc./Consumer Tracking Service
The study asked consumers to pick multiple purchase motivators, hence the percentages do not add up to 100.
The NPD Group and Home Channel News will host a free Webinar on hand tool research and trends Feb. 4, at 1 p.m. Click here for more information.