As the cost-of-living crisis continues, the perception of value is shifting with 'quality' and 'cost' the most important factors for all consumers. This is changing how they engage with sales and discount events, and many Brits are expected to reduce festive spending on presents and parties this year in order to save money.
Retailers have responded to this shift in behaviour by limiting price increases on everyday purchases, and selectively using promotions on surplus inventory and seasonal items to manage customer perception and clear out excess stock. How successful have retailers been in their response?
Erin Brookes, Managing Director and Head of Retail & Consumer, Europe discusses the performance of the recent Black Friday sales as retailers try to balance managing value perceptions and profitability in this Retail Week article.
To learn about how we can help retailers, visit our consumer and retail pages and check out our latest report on changing consumer values. Or, contact us to see how we can help you transform your consumer and retail business.
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