A new survey reveals that price is the top priority for most consumers when making purchasing decisions. This underscores the importance of offering competitive pricing and value-driven promotions to attract and retain customers.
Key findings:
- Price sensitivity: 65% of consumers say price is the most important factor when choosing products.
- Brand awareness: While brand awareness is still important, it's no longer the primary driver of purchasing decisions.
- Value-oriented shopping: Consumers are more likely to choose products that offer the best value for their money.
Retailers must focus on providing competitive pricing and highlighting the value proposition of their products to remain competitive.
How are you addressing price sensitivity in your retail strategy?