Starbucks recently announced it was competing in the red-hot single-serve coffeemaker market with its new “Verismo System.” The coffee giant said more than one out of three coffeemakers sold in 2011 was a single-cup machine and that it’s new coffeemaker would win shopper approval based on quality and technology.
Starting at $199, Starbucks’ coffeemaker is priced higher than many of its competitors. But that might not matter to shoppers. Results from The Complex Shopper study by Integer and Decision Analyst suggest cost is not always the deciding factor when shopping for single-serve coffeemakers or other housewares products.
Shoppers were more interested in the price/value equation of their coffeemaker or housewares purchase. Does the value of the item outweigh its cost to the shopper in money, time, effort and environmental impact? Interestingly, shoppers thought about single-serve coffeemakers, and other housewares products, for a long time before buying them, likely factoring in the overall value these items bring to their lives.
Whatever their reason, calculating the price/value equation helped build confidence in their purchase decision, particularly for single-serve coffeemakers shoppers. As a relatively new product, shoppers needed extra reassurance before committing to buy.
How can you help build shopper confidence about your product or brand? Download our latest report, Plugged-In: Plug in to Considered Purchase Insights for Housewares and Electronics Shoppers, and find out.