Archive for 6 March, 2009
understanding value
Like many other Planners I suspect, I’ve been pulling together a lot of insight pieces for work recently looking at the effect of the downturn economy on buying behaviour.
Since it’s proper paid-for-by-my-employer stuff drawing on all the groups and depths the research team have been doing with mums recently, I can’t really share it in full here, but one of the most interesting things that came out is about the broadening definition of what ‘value’ means for UK shoppers – and it’s NOT just about cheaper prices:
- for many hardcore premium supermarket shoppers, it’s still about the store delivering value via a less stressful shopping experience (no screaming kids or muzak)
- value is getting tied into brands providing a rationale for purchase, ‘ammunition’ to justify spending money on non-essentials while other people are skint
- value can also mean a reassurance of quality (which is where big brands still have a role to play), or can be about delivering quantity (a dozen Value loo rolls) or even minimal packaging – mums seem to have finally woken up to the fact that they have been paying over the odds for overpackaged goods
- value can even be delivered via advice, in terms of how to use up leftovers or quick and healthy meal ideas
- when it comes down to it, value is now all about delivering an acceptable compromise to conflicted mums struggling with tight budgets
