2018年-尼尔森亚太地区_Moving_On_Up_27页_4mb

Summary of "Moving on Up" - Premium Products in High Demand

Core Content

The document "Moving on Up" from Nielsen explores the global trend of premiumization in the fast-moving consumer goods (FMCG) market. It highlights the rapid growth of the premium segment across various regions and categories, emphasizing the shift in consumer behavior and the factors driving this trend.

Main Points

• Global Premium Growth: The premium segment is growing faster than the mainstream and value tiers in many markets. In Southeast Asia, it grew by 21% between 2012 and 2014, while in China, it grew by 23% over the same period. In Latin America, the premium segment outpaced total FMCG growth in all markets except Mexico and Venezuela.

• Consumer Buying Power: Rising consumer purchasing power, particularly in emerging markets like China, India, and sub-Saharan Africa, is a key driver of premiumization. The global middle class is expected to grow significantly by 2030, with the bulk of this growth in Asia.

• Premium Perception Drivers: Consumers define premium products not just by price but by quality, performance, design, and brand reputation. Exceptional quality is the most cited feature (54%), followed by superior performance (46%). Superior design and brand name are also important, especially in emerging markets.

• Emotional and Rational Motivations: While rational reasons (such as better performance) are important, emotional drivers like feeling good, confident, and successful are more influential in emerging markets. These emotional benefits often outweigh the practical ones, especially in regions where aspirations for status and accomplishment are high.

• Willingness to Pay a Premium: Consumers are more willing to pay a premium for products with environmental or social benefits. Approximately 42% are willing to pay more for organic or natural ingredients, and 39% for sustainable materials. Socially responsible products also have strong appeal, with 31% of respondents willing to pay more.

• Market-Specific Trends:

  • Asia-Pacific: High willingness to pay for premium products in categories like personal care, beauty, and food and beverages. China and India show strong financial sentiment despite lower disposable income.
  • Europe: Premium perceptions are more tied to price and brand reputation, with Russia, Ukraine, and France citing price as the top attribute. However, in some European countries, such as Italy and Finland, price is less of a factor.
  • Latin America: Economic struggles in countries like Argentina and Venezuela affect willingness to pay, with 54% of respondents stating they can only afford basics.
  • North America: Consumers are more focused on quality and performance, with 43% of respondents in the U.S. willing to pay more for premium products.

• Premium Categories:

  • Personal Care & Beauty: Strong premium potential, with over 25% of consumers willing to trade up for premium products in hair, body, and oral care.
  • Food & Beverages: Milk alternatives like almond milk are driving growth in the premium segment, especially in the U.S.
  • Meat & Seafood: High premium potential in developed markets, with significant growth in Southeast Asia.
  • Dairy: Premium dairy products are growing rapidly, with U.S. premium milk sales increasing by 52% between 2014 and 2016.
  • Pet Food: In North America, 20% of consumers are willing to pay more for premium pet food, with a compound annual growth rate of over 9% for super-premium dog food brands.

• Small vs. Large Brands: Smaller companies are better positioned to innovate and adapt to premium trends due to their ability to build brand and product perceptions simultaneously. In contrast, large established brands may struggle to align their image with new premium offerings.

• Survey Methodology: The study is based on over 30,000 global respondents and highlights that online survey data may not represent the entire population, especially in developing markets where internet penetration is still growing. Cultural differences in reporting also affect the data.

• Consumer Sentiment on Spending: Globally, only 14% of respondents feel they can spend freely. However, in developing markets like India and China, a higher percentage of consumers report financial improvements, even with limited disposable income.

Key Information

• Premium Segment Definition: Products that cost at least 20% more than the average price in the category.
• Trend in Innovation: The premium segment has been a significant part of new product development, especially in Southeast Asia and other emerging markets.
• Emotional Drivers: Feeling good, confident, and successful are strong motivators for purchasing premium products, particularly in emerging markets.
• Regional Insights:
  • Asia-Pacific: High premium potential in personal care, food, and beverages.
  • Europe: Premium perceptions are influenced by price and brand reputation.
  • Latin America: Economic challenges affect willingness to pay.
  • North America: Consumers prioritize quality and performance.
• Opportunities for Brands: Established brands can leverage their infrastructure and retail partnerships to enter the premium market, especially when there's a gap between mass-market and premium offerings.

Conclusion

The premium segment is experiencing robust global growth, driven by increasing consumer purchasing power, emotional aspirations, and the desire for better quality and performance. While large brands may struggle to adapt, the opportunity for innovation and market capture remains significant, particularly in regions with strong financial sentiment and cultural emphasis on status and success.