Choiceful consumers as inflation stabilizes: Continued pressure on price has consumers shopping around, but Brands can win on value too
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In our annual consumer price/promotion survey, we dive into how consumer trade-offs continue to evolve as inflation stabilizes. Although price increases are slowing, many consumers are still feeling financial strain and actively seeking ways to get the most value. At the same time, consumers continue to recognize and value brands, choosing based on more than just price.
Key Take-aways:
• Price Remains Crucial: While price continues to play a significant role in consumer decisions, there’s more to the story.
• Shifting “Back to Brands”: We’re observing a gradual return to brand as consumers seek more than just cost savings.
• Ongoing Trade-Down Behavior: The trend of trading down remains strong, affecting both brand and store selection
• Role of Promotions: Strategic promotions are an important factor in influencing consumer choice, impacting both brand and store selection.
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