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1、可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,Inside the minds and pockets of Latin American consumersHow consumers build price perception and its impact on retailers,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,1,THE COCA-COLA RETAILING RESEARCH COUNCIL LATIN AMERICA,The Coca-Cola
2、Retailing Research Council Latin America (CCRRC - LA) is dedicated to developing a better understanding of the food retailing and allied merchandise distribution business in Latin America. It concentrates in identifying and then studying selected relevant issues, presenting its findings to the manuf
3、acturing and retailing communities, in order to assist in the development and enhancement of the food retailing business.,Latin America Council MembersJonathan BergerCIES USAHoward Butt IIIHEB MexicoGuillermo DAndreaCouncil Research DirectorAna Maria DinizGrupo Pao de Acucar BrazilPaulo GoelzerIGA,
4、Inc. BrazilAntonio Coto GutierrezDia Internacional ArgentinaTim HammondsFMI USANicols IbezD&S ChileGonzalo Restrepoxito ColombiaEduardo Castro WrightWal*Mart Mexico,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,2,REVIEWING THE STUDY GOALS AND OBJECTIVES,Understand the drivers of consumer
5、 price perception in Latin America,Overall goals and focus level,Specific objectives,Understand the implications of pricing approaches on retailers and manufacturers,Source:Team analysis,10% of study focus,90% of study focus,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,3,THE STUDY LEVERAGED
6、 THREE MAIN SOURCES OF INFORMATION,*AC Nielsen conducted the focus groups in So Paulo and the field research in all five marketsSource:Team analysis,15 in-depth interviews with executives of key retailers in the region,Methodology,Qualitative surveyFocus groups to test initial hypothesisQuantitative
7、 survey3,000, 30-minute interviews,Correlate consumer research results with AC Nielsen scantrack information,Understand retailer perspective on consumer price perception,Objective,Capture insights on consumer price perceptionSegment consumers,Enrich findings with AC Nielsen proprietary databasesMatc
8、h price perception with actual prices,In-depth interviews,Consumer survey*,ACNielsen database,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,4,CONSUMER SURVEY DETAILS,Source:AC Nielsen, team analysis,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,5,ONLY CONSUMERS WHO SHOP REGULARLY IN
9、AT LEAST ONE MODERN FORMAT STORE ARE RELEVANT FOR OUR ANALYSIS,*Includes hypermarkets, supermarkets, mini-markets and suburban supermarketsSource:Team analysis,Considered for our analysis,Consumers who only shop in traditional format,Consumers who shop in it least one modern format* store regularly,
10、Typically low-end consumersUseful to gain insights on the low-end market, already studied by CCRRCAnalysis more useful in a study to increase the penetration of modern format, what is not the scope of this project,Primary population of interest for the CCRRCOnly respondents able to provide answers a
11、nd crossable data for:Accuracy of price perceptionPrice perception drivers for modern formatEffectiveness of promotional activity in price perception building,Our sample is representative of modern format shoppers,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,6,21-34 years,35-49 years,50+ ye
12、ars,THE CONSUMER SURVEY IS REPRESENTATIVE OF THE MAIN SOCIO-ECONOMIC CLASSES AND AGE GROUPS,Age,*Based on AC Nielsen socio-economic classification for each marketSource:Consumer survey,%,Middle,Low,High,Socio-economic class*,Results take into account the behavior and attitudes of low income consumer
13、s,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,7,Source:AC Nielsen, National Marketing Associations of each country,COUNTRY-LEVEL ACCEPTED STANDARDS GUIDED OUR INCOME LEVEL CLASSIFICATION,We adopted the principles suggested by the National Marketing Associations of each country,So Paulo,Bue
14、nos Aires,Mexico D.F.,Santiago,Bogot,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,8,KEY TAKEAWAYS FROM STUDY,Latin America: diversity of consumers, and not just in the depth of their pocketsThe few key levers that matter in building price perception and the one that doesntConsumers (mostly)
15、 getting it right in their search for valueRetailers have an opportunity to get it right more often in their search for a better price proposition,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,9,CONSUMERS IN LATIN AMERICA CAN BE SPLIT INTO FIVE MAIN SEGMENTS,Source:Consumer survey, team anal
16、ysis,Avid bargain hunters,Invest a lot of time and are willing to visit multiple stores for the best deals,Quality seekers and time savers,Willing to pay a slight price premium to save time and have access to high quality products,“Indifferent shoppers on a budget,Do not care about shopping, hence i
17、nvest little time in it,Range-seekers on a budget,Want to bring home the best quality products, but limited by a tight budget,High income consumers who are willing to visit multiple stores to find the best deals,High-income bargain hunters,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,10,WE
18、RAN A TWO-STAGE CLUSTER ANALYSIS COMBINING ATTITUDINAL AND SOCIO-DEMOGRAPHICS ELEMENTS,*Note that none of the elements are unique, however, this methodology provides managers with unprecedented control over the process, by allowing maximum managerial input and the testing of early hypothesisSource:T
19、eam analysis,Sample of 3,084 consumers in 5 countries,Two main segmentation drivers,Attitudinal elements (most common method) Clean and intuitive attitudes across all segmentsLacks actionability (difficult to find consumers),Selected 4 most robust scenariosCrossed with shopping behaviorKey buying fa
20、ctors Average monthly spendFormat of main store,Socio-economic/ demographicsSimple way to segment, facilitate identificationLacks insights and does not reflect attitudes,Two-stage cluster analysis Combines both methodologies to reach meaningful and actionable segments Process* developed and refined
21、by McKinsey experts for segmentations with strategic objectives,Ran 20+ statistically relevant scenarios,Selected 1 scenario with 5 clusters,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,11,ALLOWING THE IDENTIFICATION OF SOME CONSUMERS TO WHICH SEGMENT THEY BELONG,Source:Team analysis,Low in
22、come level Age 21-34 years oldOnly one person on the household,Middle income level Large householdShops primarily on hypermarkets,84% probability that this person is an Avid Bargain Hunter,86% probability that this person is a Range seeker on a budget,EXAMPLE,可口可乐市场分析InsidethemindsandpocketsofLatinA
23、mericanconsum,12,INCLUDING A HANDFUL OF ATTITUDINAL STATEMENTS, ONE CAN IDENTIFY MOST CONSUMERS,Source:Team analysis,Would you sacrifice service for lower prices?,Would you spend a lot of time looking for offers?,Probability of 64% to be an “Indifferent shopper on a budget”,Yes,No,21 - 34,35 - 49,50
24、+,Age group,A handful of attitudinal statements allow us to identify over 50% of all consumers,EXAMPLE,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,13,AVID BARGAIN HUNTERS,Rely less on modern formatsWhen shopping on modern formats, tend to prefer discounters,How do they behave?,Lowest avera
25、ge expenditure when compared with other segments (12% below market average),Less likely to do stock-up tripsAlways compare prices at different storesTend to be the least loyal consumers,Shopping around for the best dealsPurchasing only products they had planned onWilling to sacrifice services for lo
26、wer pricesSpending a lot of time looking for promotionsShopping in larger number of stores recently,What do they not value?,Paying more to shop close to homePaying more to save timePaying more for higher quality,What do they value?,Source:Consumer survey, team analysis,Shopping behavior,Monthly spen
27、d,Format,Typically low income Disproportionate number of males and older consumers (50+ years old),可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,14,AVID BARGAIN HUNTERS,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,15,HIGH INCOME BARGAIN HUNTERS,Typically high income consumerAverage
28、age and household size,Tend to spend more (16%) than the average spend on groceries,Rely more on modern format storesTend to prefer hypermarkets and avoid shopping on discounters,Tend to have higher loyalty than average (So Paulo is the exception),How do they behave?,Shopping behavior,Monthly spend,
29、Format,Source:Consumer survey, team analysis,Shopping around for the best dealsStocking-up when they find attractive promotionsGoing to a grocery store they hear is offering good specialsShopping in more stores recently,What do they not value?,Paying more for the convenience of shopping closer home,
30、What do they value?,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,16,HIGH INCOME BARGAIN HUNTERS,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,17,RANGE SEEKERS ON A BUDGET,Tend to shop more on hypermarkets,Format,Highly price sensitiveTend to make fewer trips (So Paulo is the excepti
31、on) and stock up once a monthNormally below average loyalty,How do they behave?,Tend to spend less (6%) than the market average on groceries,Monthly spend,Shopping behavior,Source:Consumer survey, team analysis,Typically young, low income mothersLarge household (6 or more people),Getting good qualit
32、y products and a large assortmentStocking-up when they find attractive promotionsProviding the best possible quality for their family, despite their tight budget,What do they not value?,Sacrificing services for lower pricesShopping at upscale stores,What do they value?,可口可乐市场分析Insidethemindsandpocke
33、tsofLatinAmericanconsum,18,RANGE SEEKERS ON A BUDGET,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,19,INDIFFERENT SHOPPERS ON A BUDGET,Typically low/ middle income,Tend to spend 10% less than the market average on groceries,Tend to rely less on modern format storesWhen shopping on modern for
34、mats, tend to choose hard discounters,How do they behave?,Tend to shop less frequentlyDisplay relatively high loyalty to their main grocer store,Shopping behavior,Monthly spend,Format,Source:Consumer survey, team analysis,Sacrifice service for lower prices,What do they not value?,Spending time looki
35、ng for dealsStocking-up when they find good promotionsReading store pamphlets,What do they value?,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,20,INDIFFERENT SHOPPERS ON A BUDGET,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,21,QUALITY SEEKERS AND TIME SAVERS,How do they behave?,Hig
36、hest average basket, 22% higher than market average spending on grocery shopping,Rely primarily on modern format storesWilling to shop more on supermarkets,Tend to shop less frequentlyTend to be the most loyal segment in all marketsRarely compare prices,Shopping behavior,Monthly spend,Format,Source:
37、Consumer survey, team analysis,Typically high income consumersSmall families,Saving time rather then moneyThe convenience of shopping closer to homeHigher quality, even at higher prices,What do they not value?,Spending time looking for promotionsShopping in many stores to pay less,What do they value
38、?,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,22,QUALITY SEEKERS AND TIME SAVERS,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,23,Avid Bargain Hunters,Indifferent shoppers on a budget,Quality seekers and time savers,High-income bargain hunters,RELATIVE SIZE OF THE SEGMENTS IN THE R
39、EGION,100% = 2,818,Number of respondents,Source:Consumer survey,Range-seekers on a budget,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,24,THE MARKETS SHOW SIGNIFICANT DIFFERENCES IN SEGMENT BREAKDOWN,%, number of respondents,Quality seekers and time savers,Range seekers on a budget,Indiffer
40、ent shoppers on a budget,Avid bargain hunters,S. Paulo,B. Aires,Mexico,Santiago,Bogot,Source:Consumer survey, team analysis,Overall,583,568,550,551,565,2,818,High income bargain hunters,100%,So Paulo and Buenos Aires have a disproportional share of “Bargain hunters segments“Quality seekers and time
41、savers” are more relevant in Santiago and Bogot,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,25,DETAILED SEGMENT DESCRIPTION SO PAULO,Number of respondents, R$ 000, %,Source:Consumer survey, team analysis,Avid bargain hunters,$ spend,Range seekers on a budget,Indifferent shoppers on a budge
42、t,Quality and time,High income bargain hunter,Number of consumers,249,565,Store formatHyper: 47%Super: 19%Disc.: 35%,Store formatHyper: 57%Super: 3%Disc.: 40%,Store formatHyper: 77%Super: 12%Disc.: 11%,Store formatHyper: 79%Super: 12%Disc.: 10%,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,2
43、6,ALTHOUGH OTHER FACTORS VARY IN RELEVANCE, LOCATION AND PRICE ARE THE TWO MOST IMPORTANT FACTORS FOR ALL SEGMENTS,Source:Consumer survey,Location,Promotions,Quality of perishable products,Assortment,Overall product quality,Indifferent shoppers on a budget,Range-seekers on a budget,Quality seekers a
44、nd time savers,Avid bargain hunters,Why did you choose to shop at that particular store?,Price,% of consumers that selected the factor as important,Brand variety,Service level,Private label quality,High income bargain hunters,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,27,BUT SEGMENTS VARY
45、 WIDELY IN THE FREQUENCY OF PRICE COMPARISON,%, number of respondents,High income bargain hunters,Indifferent shopper on a budget,Range seeker on a budget,Quality seeker and time saver,Source:Consumer survey, team analysis,Avid Bargain Hunters,493,655,530,493,636,Always,Occasionally,How often do you
46、 compare prices between stores?,Never,Very often,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,28,FROM RETAILERS STAND POINT, SOME SEGMENTS APPEAR TO BE MORE ATTRACTIVE THAN OTHERS,Quality seekers and time savers,High income bargain hunters,Indifferent shoppers on a budget,Range seekers on a
47、 budget,Avid bargain hunters,Source:Consumer survey,Loyalty compared to averageShare of wallet of main store,Monthly spendCompared to market average,“Quality seekers and time savers” and “High income bargain hunters” spend more than any other segment and tend to be more loyal customers“Avid Bargain
48、hunters” and “Range seekers on a budget” are the least loyal segments and have small basket sizes,%,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,29,BUENOS AIRES AND BOGOT HAVE THE LOWEST LOYALTY RATIO OF ALL MARKETS,So Paulo,Santiago,Mexico,Bogota,Buenos Aires,Average loyalty ratio*,*Share
49、of wallet of main storeSource:Consumer survey,可口可乐市场分析InsidethemindsandpocketsofLatinAmericanconsum,30,SHOPPING BEHAVIOR BY SEGMENT AND MARKET,Average basket size (vertical axis) vs. loyalty index* (horizontal axis),*Share of wallet of main storeSource:Consumer survey,So Paulo (R$),Santiago (CLP),Bo
50、got (COP),Mexico (MXN),Buenos Aires (ARS),Quality,HIBH,Range,Avid BH,Indifferent,Quality,HIBH,Indifferent,Avid BH,Range,Quality,HIBH,Range,Indifferent,Avid BH,HIBH,Quality,Indifferent,Avid BH,Range,Quality,HIBH,Indifferent,Avid BH,Range,Quality seekers and High income bargain hunters spend more than any