How do shoppers perceive value today?
Price no doubt still plays a major role in how consumers perceive value. And in the era of online retail, the lowest price has never been easier or quicker to find.
What’s more, Black Friday exploded in this country two years ago. How has its promise of dramatic price reductions affected shoppers’ perception of value?
In a retail landscape where prices are easily compared, and major discounting events are taken for granted, what else can retailers do to offer good value (and better value than their competitors)?
We worked with Toluna and asked 1,000 people a series of questions about price, preferences, and their buying behaviour. Their answers provide an idea of what value means to the modern consumer.
This report presents shoppers’ responses and considers:
- how consumers perceive value when they shop;
- where consumers expect the best prices;
- how discounting affects consumers’ habits; and
- how price and value affect consumers’ view of brands.