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Consumer Switching Behavior Research Findings

This research study conducted by the National Consumer Agency explores the extent of consumer switching behavior in various sectors and the reasons behind it. The findings reveal that a significant percentage of consumers have switched providers in the past year, primarily in car insurance, mobile phone services, and grocery shopping. The study also reveals that most consumers switch providers to save money and find the switching process easy.

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Consumer Switching Behavior Research Findings

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  1. National Consumer Agency Market Research Findings: Consumer Switching Behaviour February 2012 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 (17%, ↓5%) • mobile phone provider (12%, unchanged) • main grocery shop (12%, ↓5%) • 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 holders/purchasers of products/services) Nov ‘11 May/June ‘11 Switching Providers Tertiary Primary Secondary Yes Yes Yes – – * New question

  8. Switching Behaviour – Primary (Base: All aged 15-74 – 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 % % * * * Caution small base

  9. Switching Behaviour – Secondary (Base: All aged 15-74 – 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 % % * * * * * – – – – * Caution small base

  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) May/June 2011 Nov/Dec 2010 November 2011 % % % Very easy (5) 84% 92% 88% Somewhat easy (4) Neither/Nor (3) Somewhat difficult (2) – – Very difficult (1)

  12. Service Receiving with New Provider (Base: All who have switched service provider - 383) (2) (4) Much better (5) Much worse (1) 1 1 50% 1 55% – 59% 61% – 56%

  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 % % % % % % – –

  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 % % % % % % – – –

  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 % % % % % % – – –

  16. Research Background and Methodology

  17. Research Background and Methodology • 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. Nov/Dec 2007 Aug 2008 Nov/Dec 2008 May/June 2009 Benchmark Wave 1 Wave 2 Wave 3 Nov/Dec 2009 Nov/December 2010 May/June 2011 June 2010 Wave 4 Wave 5 Wave 6 Wave 7 Nov 2011 Current Wave Wave 8

  18. Profile of Sample - I (Base: All aged 15-74 – 1,000) MAIN GROCERY SHOPPER % % % % 15-24 Dublin Male ABC1 F50+ Yes No 25-34 Rest of Leinster 35-44 45-54 Munster Female C2DE F50- 55+ Conn/ Ulster

  19. Profile of Sample – II – Internet Use (Base: All aged 15-74 – 1,000) USE INTERNET EVER PURCHASED ONLINE BANKING ONLINE (Base: All Internet Users - 762) (Base: All Internet Users - 762) (25%) Yes Yes Yes (30%) No No No (51%) (49%) (70%) (75%) % Yes % Yes % Yes () = May/June 2011

  20. Profile of Sample – III – Social Media (Base: All aged 15-74 – 1,000) Nov 2011 May/June 2011 Higher Amongst Type of phone % Regular users of ....... % 15-24 86% ABC1F50 59% Dublin 55% (21) Have a ‘Smart phone’ 15-24 21% 55+ 86% C2DEF50- 56% Munster 53% () = May/June 2011

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