A Nielsen’s Consumer Report has shown that overseas born consumers spend more than Australian born consumers. Asian born Australians are the biggest growing demographic in Australia today and their buying preferences are influencing the shape of retailing.
The report said - “For example, Asians’ food preferences are very different compared to the rest of the consumer population – they want more fresh produce, more seafood and healthier food options.” This is a view that would be supported by many fresh food traders at QVM, particularly fishmongers.
They are also likely to be well informed about their purchases and likely to research prices and product information online before purchasing. Interestingly, they are twice as likely to be influenced by their children when shopping.
In a market like QVM with such a huge variety of customers it certainly pays to be aware of cultural differences when maximising the potential of your business.