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Market Research : Nikon Camera Buyers Willing to Pay More Than Other Brand Purchasers: Market Insight

Consumer Market Research Reveals Shoppers’ Brand and Price Preferences

November 18, 2011
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Palo Alto, CA—Market Insight Corp. reported that U.S. consumers place a greater importance on “brand” for digital camera purchase decisions and the maximum price they are willing to pay for a camera is influenced by brand.

Based on preferences collected from more than 26,000 digital camera shoppers visiting MyProductAdvisor.com from May through October 2011, those who prefer the Nikon brand are willing to pay the most, with Canon ranking second. Olympus, Panasonic and Fujifilm are among those brands attracting shoppers with more moderate willingness to pay.

“The results may verify expectations that Nikon’s overall brand/price power is positively impacted by the presence of its ‘high end’ line of cameras,” stated the research firm.

The company also noted that the maximum price consumers are willing to pay across a broad line of digital cameras reached a “recent years’ low” during the second half of 2010 and has been trending up during 2011.

Another notable trend revealed by the study is the shift toward cameras priced over $600. Between May and October, the percentage of shoppers in this price group increased by 12%.

Brand, however, isn’t the only deciding factor, notes Market Research. For example, consumers who prefer Samsung are drawn to the cameras’ “stylish design, Internet based social media, point and shoot, and video recording capability. But those preferences have not yet translated to a significant increase in shoppers’ willingness to pay.”

Market Insight Corp. (MyProductAdvisor.com) is a consumer-facing website designed to provide a real-time portal into the minds of consumers. The service continuously gathers shopper preferences for specific product attributes.

 

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