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US consumers less tolerant of recalls, says study
The buying habits of consumers change dramatically and cost companies millions when product safety and quality issues arise, according to a new study released today by Deloitte.
More than half of consumers responding (58%) who heard about product safety and/or quality problems changed their buying habits, according to the survey. These consumers turned away from such products for more than nine months, on average, increasing the likelihood that they would discontinue the use of the product or brand entirely.
"Our research shows that consumers are becoming less tolerant of recalls with more than 50% changing their product choices," said Pat Conroy, Deloitte LLP's vice chairman and consumer products practice leader. "As these consumers continue to buy different products, product manufacturers can expect lower sales and run the risk of damage to their brands."
Read the full article here