Consumers see Lidl as top in Cyprus quality-price ratio
According to independent research carried out by the ICERTIAS-International Certification Association, Lidl Cyprus tops island consumers’ perception with regards to best price-quality. The company stood out in the Best Buy Award in a total of eight categories, highlighting Lidl as the ‘No.1 company in Cyprus with the best relationship value for money for the year 2023/2024‘.
Survey questions were open-ended, with no participant given answers in advance; consumers had the chance to express their opinions freely and without restriction. Ultimately, the survey’s overall results showed that the greatest number of respondents answered ‘Lidl’ in a total of eight categories, and in reference to Cyprus. More specifically, the categories were:
- Symbol of the best quality-price ratio
- Retail chain
- Discount store
- Fresh fruit and vegetable department
- Fresh meat department
- Fresh bakery department
- Ice-cream producer or supplier
- Bottled water producer or supplier
Based on research findings, it is clear consumers’ purchasing choices are directly influenced by two main factors: price, as they seek more affordable products and services, and quality, as they choose what corresponds most to their level of desired quality.
Thus, taking first place in this research is an important achievement for Lidl Cyprus, once more confirming its commitment to offer the best quality at the best price. In a period of market volatility and price escalation, the company remains steadfast in its clear orientation towards low prices and high quality.
About the ‘Best Buy Award’ programme
The survey measures the best price-quality ratio of products and services offered in the local market, according to consumers’ experiences and opinion. The research’s main objective is to capture shoppers’ experience and perception with regards products and services, as well as their perceptions of manufacturers and providers that offer the best value for money (the so-called ‘Best Buy’).
The objective of the ‘Best Buy Award’ programme is to make it easier for consumers to identify the market’s best and most affordable products and services. An important thing to note is that the Best Buy Award survey does not measure market share or brand strength, but only the experience, satisfaction and perception of respondents with regards the quality and price of products and services in the market.
About ICERTIAS
ICERTIAS-International Certification Association is a politically-independent, private organisation, with a presence in over 40 countries on five continents. ICERTIAS promotes innovative market research locally and internationally. The organisation focuses on promoting product value, quality and services at a global level, as well as strengthening the best possible vendor/supplier and customer relationship.
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