可口可樂顧客分析報告

1、research launched for: the coca-cola retailing research council latin america by: mckinsey lower tend towards discounters & hyper 32 some retailers “attract” disproportionate share of certain segments (1/3) overallabcd 54374904793 high income bargain hunters range seekers on a budget avid bargain hu

2、nters 100% source: consumer survey, team analysis quality seekers and time savers indifferent shoppers on a budget percentage of primary shoppers by segment, main retailers so paulobuenos aires 322937151 overallabc 33 some retailers “attract” disproportionate share of certain segments (2/3) overall

3、410591145137 high income bargain hunters range seekers on a budget avid bargain hunters source: consumer survey, team analysis quality seekers and time savers indifferent shoppers on a budget abcd bogotsantiago overallab 521114316 percentage of primary shoppers by segment, main retailers 34 some ret

4、ailers “attract” disproportionate share of certain segments (3/3) averageabcde 49566203576835 high income bargain hunters range seekers on a budget avid bargain hunters 100% source: consumer survey, team analysis quality seekers and time savers indifferent shoppers on a budget mexico percentage of p

5、rimary shoppers by segment, main retailers 35 mckinsey proprietary research identified seven segments in the u.s. grocery retail market shop around at many different stores to hunt down the latest special want broad selection and national brands for a low price use coupons 100% of the time, usually

6、at a store close to home pure price willing to pay more and drive farther for quality and service want great service and ambience at any cost willing to pay more to get in and out quickly at a store close to home use every means available to get the lowest price will not pay more for anything bargai

7、n huntersselection for lesscoupon clippers qualitysuperior experienceconvenience source: mckinsey north american retail practice 36 latin america segments are fairly similar to those in the u.s. selection for less (12%) coupon clippers (10%) quality (14%) superior experience (20%) convenience (22%)

8、source: team analysis range-seekers on a budget (22%) quality seekers and time savers (21%) united stateslatin america ( ) percentage of total spend bargain hunters (10%) high-income bargain hunters (20%) avid bargain hunters (20%) in latin america, “more price oriented segments” are significantly l

9、arger than in the u.s., noticeably “bargain hunters” even adding the “coupon clippers” in the us segments broadly similar in key characteristics pure price (12%) indifferent shoppers on a budget (17%) 79% 44% 56% 21% more price oriented less price oriented “l(fā)ess price oriented” segments in the u.s.

10、more defined and significantly larger share of total population than in latin america s s 37 key takeaways from study 1.latin america: diversity of consumers, and not just in the depth of their pockets 2.the few key levers that matter in building price perception and the one that doesnt 3.consumers

11、(mostly) getting it right in their search for value 4.retailers have an opportunity to get it right more often in their search for a better price proposition 38 main messages reference price, range architecture and promotions are the three most important levers in determining consumer price percepti

12、on in latin america reference price is the most important lever: in all consumer segments, although other levers have disproportionate influence depending on the segment, such as range architecture for “quality seekers and time savers” and “indifferent shoppers on a budget”. in all markets except me

13、xico city, where range architecture is slightly more important a limited number of kvis appear to particularly important in driving consumers perception of reference price from matching price perception with price reality, it is clear that consumers are able to quite accurately identify retailers wi

14、th low average prices in markets where promotional activity is relatively low. promotions do not drive price perception in any market and in fact obscure price reality in sao paulo and buenos aires. there are indications however, both in low and high promotional markets that some retailers are able

15、to get more credit more value than they “deserve” 1 2 3 4 5 39 how do consumers develop their price perception? source: team analysis what are the different elements that can help explain price perception? what are the elements that are most relevant to explain price perception? are these different

16、for the various markets? are these different for various segments? how do consumers perceive prices? do latin american consumers accurately perceive low price retailers? are there differences in price perception accuracy when we look at the different regional markets and segments? what elements migh

17、t explain regional differences in price perception? how does price perception match with price reality? 40 there are several potential drivers of price perception source: team analysis reference price promotions range architecture communications in-store environment drivers low prices on items bough

18、t most often low prices on well-known items prices are usually low frequent discounts frequent interesting promotions (e.g., 2x1, wow deals) low priced alternatives for everyday basics (i.e., opp) broad range of price and quality levels private label with good price/quality ratio believable low pric

19、e ads frequent promotion pamphlets in-store signs that clearly point to sales overall store environment a lot of people shopping 41 price perception in latin america is driven mainly by two elements % total weight source: team analysis reference price is the key lever of price perception, with kvis

20、as a very relevant component range architecture namely cheap alternative brands (opps) are also very important together they make up for 75% of the way a consumers builds price perception prices are usually low cheap alternative brands upscale store environment frequent discounts believable price ad

21、s prices on well- known items/bought most often broad range of quality & price levels reference price range architecture environment promotions communi- cations 42 drivers of price perception by metropolitan region % total weight * causes poorer price perception source: team analysis so paulobuenos

22、airessantiagomexico d.f.bogot reference price prices are usually low low prices on items bought most often/well known promotions good promotions frequent discounts range architecture cheap alternative brands broad range environment upscale store environment* communications believable price ads 43 dr

23、ivers of price perception by segment % total weight * causes poorer price perception source: team analysis avid bargain hunters high income bargain hunters range seekers on a budget frustrated shoppers on a budget quality seekers and time savers reference price prices are usually low low prices on i

24、tems bought most often/well- known promotions good promotions frequent discounts range architecture cheap alternative brands broad range environment upscale store environment* communications pamphlets believable price ads 44 insights on drivers of price perception across segments reference price pro

25、motions range architecture environment communi- cations low overall prices and low prices on kvis are important for all segments. however, higher income segments - high income bargain hunters and quality seekers are those who rely the least on kvis, which are the shortcut, in favor of the full pictu

26、re“, or overall prices conversely, lower income segments rely proportionately more on kvis avid bargain hunters high income bargain hunters range seekers on a budget frustrated shoppers quality seekers avid bargain hunters are very influenced by promotions and discounts other segments can see throug

27、h promotions in building their price perception avid bargain hunters are wary of nice stores an upscale store environment does not necessarily translate into higher prices for the other segments believable price ads are very powerful in building a good price image with high income bargain hunters an

28、d range seekers. the ladder are the segment the most influenced by communications quality seekers, to a lesser extent, are also influenced by price ads cheap alternative brands (opps) are very relevant across all segments, especially for frustrated shoppers additionally, quality seekers rate better

29、stores with a broad product assortment 45 an upscale store environment is a lead for higher prices in buenos aires intense promotional activity drops prices of leading brands and make opps less important in so paulo and also in mexico d.f. consumers in santiago are the most influenced by price ads i

30、nsights on drivers of price perception across geographies reference price promotions range architecture environment communi- cations so paulobuenos airessantiago mexico d.f.bogot in so paulo and buenos aires, where promotional activity is more intense, kvis are the most important price driver in the

31、 other cities, promotions do not seem important or relevant, given the lower incidence of avid bargain hunters promotions and discounts are very important in so paulo, mostly driven by the avid bargain hunters opps are very relevant in these other markets, accounting for about of price perception. a

32、dditionally, consumers in mexico d. f. are positively influenced by a broad range of price levels source: team analysis conversely, overall prices are the most important driver in the regions where promotional activity is less intense, to the tune of kvis being not relevant in bogot 46 a limited num

33、ber of kvis appear to be especially important for building price perception * based on mckinsey previous experience source: consumer survey do you base your assessment of store prices on a few key products? how many items do you normally memorize the price of to assess the price level of a store? no

34、 yes overallbogotbuenos aires mexicosan- tiago so paulo average number of items consumers claim to memorize the price on to assess retailer prices different consumers have different kvis, as a result an individual store can have up to 100 kvis* 47 kvis are a shortcut for overall prices and consumers

35、 can memorize only a few of them avid bargain hunter high income bargain hunter indifferent shoppers on a budget range seekers on a budget quality seekers and time savers source: consumer survey overall so paulosantiagomexicobuenos airesbogot average number of items consumers claim to memorize price

36、s on to assess retailer prices how many items do you memorize the prices to assess the price level of a store? above market average 48 our survey has identified about 500 kvis in each metropolitan region only about 150 are common to multiple segments number of different kvis mentioned spontaneous re

37、sponses 638 545 474 474 461 buenos aires bogotsantiago so paulo mexico d. f. source: consumer survey, team analysis mentioned by only 1 segment mentioned by at least 2 segments 49 and, out of these, only a dozen are ultra-kvis number of different kvis mentioned spontaneous responses 154 150 139 147

38、130 buenos aires bogotsantiago so paulo mexico d. f. source: consumer survey, team analysis ultra kvis only 2 segments 3 or 4 segments all segments mentioned by: 50 top ten kvis by metropolitan area % of unaided consumer responses source: consumer survey so paulo sugar unio 1 kg rice camil 5 kg coff

39、ee pilo 500 g rice camil 1 kg rice tio joo 5 kg detergent omo 1 kg rice camil type 1 5 kg beans camil 1 kg oil lisa 900 ml detergent omo multiao 1kg buenos aires sugar ledesma 1 kg milk sachet la serensima 1 liter sugar domino 1 kg detergent ala 800 g sugar no brand 1 kg sugar chango 1 kg milk fortu

40、na 1 liter oil cocinero 1.5 liter oil natura 1.5 liter coca-cola 2.25 liter ultra-kvis (mentioned by all segments) 51 top ten kvis by metropolitan area % of unaided consumer responses source: consumer survey santiago sugar iansa 1 kg rice tucapel 1kg beef 1 kg aceite a cuenta 1 l aceite belmont 1 l

41、azucar iansa 5 kg aceite miraflores 1 l azucar dama blanca 1 kg oil chef 1 liter leche soprole 1 l mexico d.f. aceite 1 2 3 1 l detergente ariel 1 kg suavisante de telas suavitel arroz morellos 1 kg aceite capullo 1 l caf nescaf 200 gr papel higinico petalo 4 rollos detergente salvo 1 kg detergente

42、ace 1 kg shampoo caprice 1 l ultra-kvis (mentioned by all segments) 52 top ten kvis by metropolitan area % of unaided consumer responses source: consumer survey bogot panela aceite leo soya aceite (no recuerda marca) chocolate/sol crema dental colgate arroz diana detergente en polvo ariel arroz flor

43、 huila arroz roa detergente en polvo fab 53 key takeaways from study 1.latin america: diversity of consumers, and not just in the depth of their pockets 2.the few key levers that matter in building price perception and the one that doesnt 3.consumers (mostly) getting it right in their search for val

44、ue 4.retailers have an opportunity to get it right more often in their search for a better price proposition 54 do consumers get it right? price perception accuracy by metropolitan area source: team analysis market average santiagomexico d.f. bogotbuenos aires so paulo accuracy of price perception +

45、- universe of primary shoppers and respondents that correctly identified retailers with low prices (retailers that had the price reality index at the bottom quartile of the market) 55 relationship between price perception and price reality * t-stat lower than 2,0 * the assessment of the so paulo mar

46、ket was made without a clear high price player source: consumer survey, team analysis mexico d. f.santiagobogot 0,750,820,72 so paulo*buenos aires 0,23 0,21 unlike the other markets, price perception in so paulo and buenos aires, cannot be explained using actual prices these results are in line the

47、lower accuracy of price perception of these cities price reality (vertical axis) vs. price perception index (horizontal axis) relevantrelevantrelevant not relevant*not relevant* r2 56 0 3 5 8 10 020406080100 relationship between price perception and promotional activity 0,060,19 proact index (vertic

48、al axis) vs. price perception index (horizontal axis) 0,16 promotional activity does not explain price perception in any of the latin american cities analyzed not relevant* 0,01 not relevant* not relevant*not relevant*not relevant* * t-stat lower than 2,0 * the assessment of the so paulo market was

49、made without a clear high price player source: consumer survey, team analysis r2 mexico d. f.santiagobogot so paulo*buenos aires 0,03 57 regional differences of latin america retail market dynamics santiago * does not consider high price player source: ac nielsen, market research, team analysis mexi

50、co bogota buenos aires so paulo promotional intensity proact index price reality index r2 of real vs. perceived prices actual promotional activity does not drive price perception however, promotional activity seems to relate to a less accurate assessment of prices from consumers promotion creates pr

51、ice opacity * consumers perception is less influenced by price reality consumers perception is influenced by price reality 58 in most markets, price leadership is consistent over time price reality index over eight four-week periods source: ac nielsen, team analysis bogot so paulobuenos aires santia

52、go number of periods of same leadership 8 78 8 59 however, in mexico, other players assume the price leadership position for a short period of time price reality index over eight four-week periods source: ac nielsen, team analysis mexico d.f. number of periods of same leadership 5 even though price

53、leadership is lost for three periods, consumers perception is not influenced by short-term price investments rather a consistent long- term strategy seems to be more effective to build a sustainable price perception with consumers 60 different segments can have different price ratings for the same r

54、etailer price ratings can be uneven across segments retailer in buenos airesretailer in so pauloretailer in santiago quality seekers and time savers high income bargain hunters high income bargain hunters quality seekers and time savers frustrated shoppers on a budget quality seekers and time savers

55、 source: consumer survey, team analysis % of consumers who rated retailer as inexpensive or very inexpensive 61 key takeaways from study 1.latin america: diversity of consumers, and not just in the depth of their pockets 2.the few key levers that matter in building price perception and the one that

56、doesnt 3.consumers (mostly) getting it right in their search for value 4.retailers have an opportunity to get it right more often in their search for a better price proposition 62 mapping out the competitive characteristics of each player promotional activity proact index price reality source: team

57、analysis 100 more expensive retailers less expensive retailers less promotional retailers (stable prices) highly promotional retailers (variable prices) market average every day lowest price edlp (every day low prices) working definition edlp retailers are those that consistently have lower and more

58、 stable prices 63 calculating price reality (index of actual prices) the time frame 32-week period the source weekly audit of sku prices per retailer ac nielsen database the scope common items across all retailers average of 1,400 skus per market the methodology simple average of the sku price for a

59、 32-week period weighted average to reach category average indexed to overall market simple average of category index to reach retailer index does not include perishables and produce* * given the scope of the study and the products included in the ac nielsen database, price reality does not include

60、produce and other perishables (e.g., vegetables, meat, fish) source: ac nielsen, mckinsey analysis 64 how did we arrive at the promotional activity index? (1/4) the time frame 32-week period the source weekly audit of sku prices per retailer ac nielsen database the scope selected 30 key categories 1