First-time buyers drawn in by exclusives in travel retail, says m1nd-set study

By Charlotte Turner |

M1nd-set-Sept-2019-FTBs-research-leadIn its latest industry monitor report, Swiss research agency m1nd-set reveals key differences in the paths to purchase and shopping behaviour among first-time buyers* (FTBs).

 

Among the key differences is the tendency to purchase travel retail exclusives and promotions. According to m1nd-set, 71% of FTBs purchase travel retail exclusives and 79% are motivated to buy through promotions, compared to only 42% and 54% among ‘non-first time buyers’.

 

The report also highlights the importance of clear and consistent communication to attract FTBs to purchase, as they are far more lucky to be ‘undecided’ in their purchases before they enter shops than non-FTBs (86% vs 69%).

 

They also research duty free shopping offers online prior to travel more than other shoppers (53% vs 43%) and notice touchpoints such as advertising billboards more frequently.

 

Sales staff are also key to influencing the purchase decision among FTBs, says m1nd-set. They are significantly more likely than non-FTBs to interact with sales staff (76% vs 62%) and among those who interact, their purchases are influenced more by these interactions than they are among non-FTBs (74% vs 48%).

 

POINTS OF DIFFERENCE WITH LOCAL MARKETS IS CRITICAL

Other insights discussed in the report include the most common categories FTBs purchase, age demographics and key purchase drivers.

PR-September_m1nd-set_Infographic-FTBs-2

Purchases by FTBs in duty free shops are significantly more likely to be triggered by aspects related to value, exclusivity and the in-store experience, than purchases by non-FTBs, says m1nd-set.

 

‘Good value for money’ is one of the key purchase drivers among FTBs, followed by the possibility of purchasing a product not available in the home market. Products that are suitable for gifting and souvenirs are also among the main purchase drivers for FTBs.

 

“The differentiation aspect – the unique nature of duty free shopping – is one of the main defining criteria of first time buyers in duty free” says m1nd-set Owner and CEO, Peter Mohn.

 

CONSISTENT COMMUNICATION

“This means it’s important to ensure they are aware of the unique and exclusive nature of shopping in the channel.

m1nd-set-research-FTBs

“These unique values can be demonstrated and promoted not only through the travel retail exclusives, but also through elements such as special packaging, different duty free sizes or formats, and in particular aspects such as local touch to enhance the souvenir and gifting suitability of the products.

 

“Value for money, promotions, exclusives and gifting opportunities should all be communicated consistently across all touch points.”

 

*The report defines the segment as shoppers who only purchase a product (or products), which they have never bought before and as shoppers who had never bought some of the products they purchased before.

 It compares FTBs with shoppers who have previously purchased products in travel retail and reveals some key differences in behaviour between the two groups.

For information on m1nd-set’s bespoke insight reports, contact Anna Marchesini: [email protected] or Peter Mohn [email protected].

International

Global Travel Retail Awards 2024: Entries now open!

TRBusiness is delighted to announce that entries to the consumer-voted Global Travel Retail...

International

Harding+ announces departure of Chief Brand and Culture Officer Sue Gosling

Harding+ Chief Brand and Culture Officer Sue Gosling has stood down from her...

International

"Growing appetite for sustainable & local products"

With international passenger traffic rebounding, consumers are demonstrating a craving for...

image description

In the Magazine

TRBusiness Magazine is free to access. Read the latest issue now.

E-mail this link to a friend