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Published
Jun 26, 2015
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The international role of social networks in the discovery of new products

Published
Jun 26, 2015

The launch of new products on the market is an important issue that needs special attention. The failure rate of these products is still currently very high. A large majority are taken out of distribution before the end of one year after their launch. Retailers must understand consumer’s needs and to communicate what corresponds accordingly.

Top sources for new product innovation Nielsen Global New Product Innovation Survey, Q1 2015


Every part of the world reacts differently to new products and to innovation. The study shows that consumers in developing countries are more likely to try a product they have never purchased before. "More than half of respondents in Asia-Pacific (69%), Africa/Middle East (57%) and Latin America (56%) say they purchased a new product during their last grocery-shopping trip, compared with 44% of European and 31% of North American respondents. At 36%, France is, meanwhile, behind most of its direct neighbors such as Italy (57%), Spain (42%) and Germany (41%).” 

To achieve their target, brands have multiple means of informing their target audience. Globally, consumers first seek the advice of a relative, secondly, the will cite a television ad as source of information, and finally, a store visit. 

The internet and social networks are very important since, out of the 9 sources cited, 4 are on the web: active research on the internet (44%), social networks (26%), online advertising (26%) and manufacturers' brand sites (25%). 

Social media postings are most among the top sources of information in Africa and the Middle East (34%), followed by Latin America (31%), Europe (20%) and North America (22%). 

Purchasing criteria are, meanwhile, classified differently in different countries. At the global level, in order of importance is affordability, followed by convenience, brand recognition, and finally novelty.

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