According to a study by Data Insight and Megamarket, almost half of the surveyed marketplace users (46%) not only purchase products from brands they already know, but also research new brands. Moreover, almost 37% of respondents do not pay attention to the brand at all and give preference to other characteristics. Thus, the main criterion when purchasing a product from a brand previously unknown to the user is confidence in quality: 35% of the surveyed audience first of all study reviews, 30% take into account the recommendations of friends, only 25% of respondents are guided by prices.
It is noted that the product categories in which respondents are most inclined to research new brands are “Food” (50%), “Household Products” (48%), “Decorative cosmetics and perfumes” ( 47%).
“The departure of familiar brands from the market has become a driver for the spread of new brands. 45% of all respondents are convinced that products that have replaced traditional brands of the past are not inferior to them in quality. At the same time, today it is important not only to attract an audience, but also to work with loyalty — more than half of the surveyed marketplace users prefer to buy a certain product from one seller. Building loyalty is a constant and continuous process in which marketplaces help sellers by providing various opportunities and tools: promotions, promotion,” notes Igor Rozhkov, Megamarket Marketing Director.
To attract customers, it is important for a new brand to ensure that there are reviews of the product on the marketplace. This is necessary, according to 51% of respondents. 38% study reviews on third-party resources. Moreover, 45% of respondents said that negative reviews are one of the main barriers to making a purchase.
Also, 44% of respondents, when choosing, give preference to items at the lowest cost among similar products. Another 31% pay attention to the seller’s rating, and almost a quarter will not buy a product if its card is not filled out in detail.
“The number of new brands in all categories is growing rapidly. The niches cleared out in 2022, and a huge number of companies literally rushed there, creating (and often simply re-labeling) their own brands. The number of brands in categories has increased by multiples and sometimes by orders of magnitude compared to 2021,” reports Fedor Virin, partner at Data Insight. “I assume that the trend in the market is that a trusted seller/store on the marketplace will have everything greater influence in the coming years and large stores/retailers will be interested not only in promoting their products but also in promoting themselves as known/trusted sellers among consumers. This will complicate the interaction between sellers and marketplaces. We will see all this in 2024–2026.”
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