Although there are signs that inflation is easing, higher prices and an uncertain economy continue to impact consumer behavior. Although many customers are “brand loyal,” given the economic environment, stressed consumers nowadays will most often make retailer and product choices with price as the main factor.
But what does price really mean? It doesn’t necessarily mean the amount on the price tag. Instead, there is an increasing focus on delivering more value for consumers, which can include other cost-reducing methods such as strategic discounts, targeted shipping offers, and rewards or cashback on purchases.
