No 30

What Influences Consumer Buying Decision?

April, 2015

TRENDS

What Influences Consumer Buying Decision?

Authenticity of products, which involves originality, tradition, guarantee of origin and added value, is another trend that influences buying decisions of increasingly educated, curious and demanding consumers, who have more access to information thanks to the internet.

Historically the evolution of consumers’ behavior to the products they buy has been known as consumer trends, which govern the driving forces in the different consumption categories, including coffee.

Datamonitor, the market research firm, has identified eight mega trends that drive buying decisions in current markets. In this issue of Bean & Beyond, we show how some of these trends sharply influence the coffee category.

Consumers are increasingly educated and have more access to information about the products they consume thanks to the expansion of the internet and social networks, which put within reach of buyers a lot of information. This in turn encourages them to find out which of the offered products are “real” or “genuine”, allowing them to compare the attributes of products to make buying decisions based on what they perceive as authentic.

With this new ease of access to information and the growing interest of consumers of all ages to know where their products come from, “authenticity” arises as a consumer trend.

Authenticity is an important factor for any brand, as the emphasis on authenticity reflects the manufacturer’s increased interest in the production and marketing processes of its products. Consumers recognize added value of products made with dedication, using quality ingredients, and they also value the work of artisan and traditional brands. As a result, consumers not only demand authentic products, but are willing to pay more for them. It is there where the value proposition by the 100% Colombian coffee brands is important in this market dynamics.

More than 51% of consumers worldwide pay attention
or a lot of attention to ingredients
in their food.


Another feature of today’s consumers is their focus on quality. Tradition products and brands represent values and deep-rooted origins to consumers, while these consumers reject imitations or adaptations of original products. Artisanal and traditional methods also focus on production processes, resulting in higher quality standards in the eyes of consumers.

For all these reasons, the products positioned under the authenticity trend exert a lot of influence on current consumer buying decision. According to measurements by Datamonitor, 63% of consumers are highly influenced by the terms “real”, “genuine” and “authentic”.

 

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Source: Datamonitor


Strength of logos and certifications
General recognition of traditional logos and certification seals leads the consumer to see the products bearing them as safe in terms of quality and origin. For European consumers, such seals as Protected Geographical Indication (PGI) mean that they comply with the European Union’s law, ensuring the genuine origin of a product and its superior quality linked to this origin, avoiding consumers’ confusion when choosing it for purchase.

 

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A growing middle class

The growing “middle class”, especially in emerging economies, has also gradually increased purchasing power and premium products are more desirable since they are increasingly within reach.

Colombian Coffee is in line with all elements of this authenticity trend: originality, tradition, quality of origin and added value, among others, which are also applicable to the value proposition by the 100% Program brands.


You are invited to learn more about our coffee family and our products, visiting the BEAN & BEYOND sections on the top of this page.