For Consumers, Premium Signifies More Than Just A Higher Price

A Nielsen survey finds that consumers globally are willing to spend as much as 20 percent more for the quality and performance of premium items in any CPG category. The result of this trend is that premium FMCG products in many countries often outsell less expensive products. For example, between 2012 and 2014, the premium segment grew 21 percent in Southeast Asia, which is more than double the rate of the mainstream and value tiers. Survey respondents indicated that premium doesn’t just mean higher price: only 31 percent said price defined premium. Instead, they said premium signifies exceptional quality and performance. [ Image credit: © Wikimedia ]