January 24th, 2013 by Judith Aquino

globeCompared to other countries, U.S. consumers are not an adventurous bunch when it comes to trying out unfamiliar products, according a new Nielsen study. Out of 29,000 online respondents in 58 countries, Latin American consumers were the most eager to try out new products with 80 percent indicating they like it when manufacturers offer new innovations, compared with the global average of 63 percent.

In contrast, less than one quarter (23 percent) of European respondents and 29 percent of respondents in North America said they would try a new product. At 56 percent, Latin American respondents were also the most willing to pay a higher price for innovative products, compared to 39 percent of global respondents.

As for Asia-Pacific and Middle East/African consumers, Asia-Pacific respondents were most likely (62 percent) to wait until a new innovation has proven itself before making a purchase decision. One quarter of Asia-Pacific respondents also said they do not prefer to purchase local brands over large global brands, compared to 23 percent globally. North Americans showed the most devotion to local brands, with 47 percent opting for local versus global options, compared to 40 percent globally.

Respondents from the Middle East or Africa were the most vocal about new product experiences. Sixty-seven percent say they like to tell others about the new products they purchase, compared to 59 percent globally. Economic factors impacted respondents in this region the most, with 57 percent saying that recent world events make them less likely to try new products.

While this is only a snippet of the research that a company would need to do when entering a foreign market, it just goes to show how widely shopping behaviors and expectations differ across the globe.

 

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