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NCA research on consumers and switching

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February 2012 - market research on switching behaviour of Irish consumers

February 2012 - market research on switching behaviour of Irish consumers

Published in: Business, Economy & Finance

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  • 1. National Consumer Agency Market Research Findings: Consumer Switching Behaviour February 20 12 Research Conducted by
  • 2.
    • Key Findings
    • Consumer Switching Behaviour
    • Research Background and Methodology
    • Profile of Sample
    Table of Contents
  • 3. Key Findings
  • 4. Key Findings - I
    • 38% switched providers in the past year, consumers are most likely to have switched
      • car insurance (13%, ↓4%)
      • mobile phone provider (12%, ↑1%)
      • main grocery shop (10%, ↓4%)
      • Overall, across all categories, 85% of consumers, who had switched service providers in the last twelve months, said they had saved money as a result
    • 95% of those switching car insurance have saved money by doing so with the average amount saved indicated as €102
    • 91% saved by switching house insurance where an average of €84 was saved
  • 5. Key Findings - II
    • 84% of consumers stated that they found the switching process easy
    • 50% of consumers who have switched in the past year have found the new service they receive to be better. Just 2% stated that the service they receive is worse
    • Not Switching?
      • The main reason is due to “ satisfaction with the quality/level of service of current provider”
      • the next highest response “ current supplier offers the best value for money ”
  • 6. Consumer Switching Behaviour
  • 7. Extent of Switching Providers within the Past 12 Months (Base: All aged 15-74 with each product/service – 1,000) Yes Nov ‘11 May/June ‘11 Nov/Dec ‘10 Primary Secondary Tertiary Yes Yes – – – (-5%) (-5%) * New question Car Insurance Electricity supply service Mobile telephone provider Main grocery shop Top up grocery shop Broadband/internet access provider Switching Providers Fixed line telephone provider Home insurance provider Heath insurance provider Gas supply service Bank financial institution with current A/C service TV service provider Gym membership Savings/investment provider Credit card provider Provider of credit (more than 1 year but excluding mortgage) Mortgage credit provider Waste service provider*
  • 8. Switching Behaviour – Primary * Caution small base % Within the Past Year More Than Once Within the Past 5 Years % (Base: All aged 15-74 with each product/service – 1,000) * * Saved money as a result of switching within the past 12 months Car insurance provider Electricity supply service Broadband internet access Main grocery shop Fixed/landline telephone Home insurance provider Mobile phone provider Top up grocery shop Health insurance provider Gas supply service
  • 9. Switching Behaviour – Secondary * Caution small base % % (Base: All aged 15-74 with each product/service – 1,000) – – – – * * * * * Within the Past Year More Than Once Within the Past 5 Years Saved money as a result of switching within the past 12 months Gym membership TV service provider Bank/financial institution Credit card provider Savings/investments provider Mortgage credit provider Provider of credit longer than one year excluding mortgage loans Waste Services
  • 10. Average Amount Saved as a Result of Switching Provider (Base: All who stated that they saved money by switching providers in the past 12 months) Home Insurance Provider €84 Car Insurance Provider €102 Don’t Know = 10% Don’t Know = 12%
  • 11. Experience of the Switching Process (Base: All who have switched providers in the past 12 months – 383) Very easy (5) Somewhat easy (4) Somewhat difficult (2) Very difficult (1) Neither/Nor (3) 92% 88% % % May/June 2011 Nov/Dec 2010 – – 84% % November 2011
  • 12. Service Receiving with New Provider (Base: All who have switched service provider - 383) (4) Much better (5) (2) Much worse (1) 59% 61% 56% 55% 1 – 50% 1 1 – November 2011 June 2011 November/December 2010 June 2010 November/December 2009 The same/ Don’t know Mean Score 48 3.8 42 3.8 39 3.9 36 4.0 40 3.9
  • 13. Reasons for Remaining with Current Provider – I (Base: All that have not switched provider within the past 12 months) % Bank % Mortgage Credit Provider % Credit Card Provider % Savings/ Investment Provider % Provider of Credit % Waste Services – – Current supplier offers the best value for money Time and money needed to switch outweigh the benefits Happy with the quality/level of service currently provided Too difficult to determine who provides the best value for money Cannot switch due to limitations No convenient alternative provider Other Don’t know
  • 14. Reasons for Remaining with Current Provider – II (Base: All that have not switched provider within the past 12 months) % Fixed Landline % Broad- Band % Mobile Phone % TV Service % Main GroceryShop % Top Up Grocery Shop – – – Current supplier offers the best value for money Time and money needed to switch outweigh the benefits Happy with the quality/level of service currently provided Too difficult to determine who provides the best value for money Cannot switch due to limitations No convenient alternative provider Other Don’t know
  • 15. Reasons for Remaining with Current Provider – III (Base: All that have not switched provider within the past 12 months) % Health Insurance % Car Insurance % Home Insurance % Electricity Supply Service % Gas Supply Service % Gym Membership – – – Current supplier offers the best value for money Time and money needed to switch outweigh the benefits Happy with the quality/level of service currently provided Too difficult to determine who provides the best value for money Cannot switch due to limitations No convenient alternative provider Other Don’t know
  • 16. Research Background and Methodology
  • 17.
    • The research was conducted by means of face-to-face interviewing with 1,000 people between the ages of 15-74.
    • To ensure that the data is nationally representative, quotas were applied on the basis of age, gender and social class.
    • Interviewing was conducted over a four week period in November 2011.
    Research Background and Methodology Nov/Dec 2007 Aug 2008 Nov/Dec 2008 Nov/Dec 2009 June 2010 Nov/December 2010 Benchmark Wave 4 Wave 5 Wave 1 Wave 2 Wave 6 May/June 2011 Wave 7 May/June 2009 Wave 3 Nov 2011 Wave 8 Current Wave
  • 18. Profile of Sample - I (Base: All aged 15-74 – 1,000) Male Female % % % % 15-24 25-34 35-44 45-54 55+ Dublin Rest of Leinster Munster Conn/ Ulster ABC1 F50+ C2DE F50- MAIN GROCERY SHOPPER Yes No
  • 19. Profile of Sample – II – Internet Use (Base: All aged 15-74 – 1,000) USE INTERNET No Yes EVER PURCHASED ONLINE No Yes BANKING ONLINE No Yes (Base: All Internet Users - 762) (Base: All Internet Users - 762) () = May/June 2011 (75%) (25%) (49%) (51%) (30%) (70%) % Yes % Yes % Yes Male Female 15-24 25-34 35-44 45-54 55+ Male Female 15-24 25-34 35-44 45-54 55+ Male Female 15-24 25-34 35-44 45-54 55+
  • 20. Profile of Sample – III – Social Media Type of phone Regular users of ....... (Base: All aged 15-74 – 1,000) % Higher Amongst % Have a ‘Smart phone’ () = May/June 2011 Nov 2011 May/June 2011 (21) 15-24 86% ABC1F50 59% Dublin 55% 15-24 21% 55+ 86% C2DEF50- 56% Munster 53% Higher amongst : 15-24’s 25-34’s ABC1/F50+ Working full time Students Dublin Facebook Twitter Bebo Linkedin None of These

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