When it comes to shopping for appliances at electrical goods or department stores, Australians of all ages are primarily concerned with one thing: price. Of course, other factors such as range of products or brands, service and product knowledge are also important, but it seems that if the price is right, many of us will forgive shortcomings in other areas…
In the year to June 2014, 72% of Australians 14+ named price as an important factor when visiting an electrical or department store. Range of products came a distant second (60%), ahead of service (52%), range of brands (50%) and past experience of store (44%).
Club member offers (3%) and rebates (5%) were not considered nearly as important.
Important features when visiting an electrical or department store
Source: Roy Morgan Single Source (Australia), July 2013 – June 2014 (n=16,809).
Between the generations*, priorities vary slightly, but not nearly as much as one might expect. Price is number one for each generation, while all except Pre-Boomers consider range of products to be the second-most important factor when visiting an electrical goods or department store.
But while priorities are fairly similar, the proportions of each generation that consider various factors important can be markedly different. Price may be the top priority for all generations when they shop for appliances, but the proportions of each that consider it important vary from 78% (Generation Y) to 60% (Pre-Boomers).
Important features when visiting an electrical or department store — by generation
Overall, Baby Boomers have the highest expectations when shopping at electrical goods or department stores, being more likely than other generations to consider range of products, service, range of brands and past experience with store important. Gen Z is the least concerned with these factors.
Geoffrey Smith, General Manager – Consumer Products, Roy Morgan Research, says:
“Nobody wants to pay too much for appliances, so it makes sense that Australians of all generations place top priority on price when visiting an electrical goods or department store.
“Upon closer inspection, however, we see that the proportions of each generation that consider price to be important vary significantly. The Boomer generations and Gen X are more likely than Gens Y and Z to value service; in fact, Gen Z don’t seem to be overly concerned about anything except price. (Of course, at their young age, they wouldn’t have had cause to buy many appliances!)
“Understanding the subtle variations in expectations from customers of different ages allows electrical appliance retailers to tailor their marketing, their retail offering and their customer service approach to attract exactly the kind of consumers they are aiming for.”
* Gen Z were born between 1991 – 2005, Gen Y between 1976 – 1990, Gen X 1961 – 1975, Baby Boomers between 1946 – 1960, and Pre-Boomers before 1946
Roy Morgan Research
Roy Morgan Research is Australia's best known and longest established market research and public opinion survey company. Roy Morgan Single Source is thorough, accurate, and provides comprehensive, directly applicable information about current and future customers. It is unique in that it directs all the questions to each individual from a base survey sample of around 55,000 interviews in Australia and 15,000 interviews in New Zealand annually - the largest Single Source databases in the world. The questions asked relate to lifestyle and attitudes, media consumption habits (including TV, radio, newspapers, magazines, cinema, catalogues, pay TV and the Internet), brand and product usage, purchase intentions, retail visitations, service provider preferences, financial information and recreation and leisure activities. This lead product is supported by a nationally networked, consultancy-orientated market research capability.
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