What is this report about?
Gain a comprehensive understanding of periodic measurement of ownership & future purchase intention of consumer durable categories through NIQ’s syndicated study on Consumer Durables. The study is crucial for OEMs to determine which categories will be “trending” in the future. Moreover, the study will also help recognize the benefits of exploring related categories within consumer durables and electronics. For example, if a consumer already owns a Dishwasher, the likelihood of him owning a Washing Machine. The study will also map the specific configuration being used and intended configuration of durables consumers plan to buy in their future purchases.
Armed with knowledge about households’ ownership of various categories, brands, types, and future purchase intentions, OEMs can undertake the following actions:
- Customize marketing strategies : Tailor marketing campaigns and messages to specific households based on their ownership and future purchase plans, thus reaching out to their target audience
- SKU Development Strategy : Identify gaps in the market and develop new product SKUs or improve existing ones to align with consumer preferences and future demands
- Cross selling opportunities : Identify potential opportunities to create bundled offerings based on purchase plans for next 6 months
- Market expansion strategies : Assess market potential in different regions or demographic segments, helping OEMs identify opportunities for expansion and targeted market penetration.