US Value-Conscious Consumer Market Report 2021

Providing the most comprehensive and up-to-date information and analysis of the US Value-Conscious Consumer market including the behaviors, preferences, and habits of the consumer.

Current Market Landscape

Value-conscious consumers are difficult to define and size because every consumer values something to some degree, whether it be savings in their pocket, time saved in a checkout line, or an exclusive, one-of-a-kind product. Most consumers, though, equate the word “value” with dollars and cents, and the most “value-conscious” of them arguably take a more mindful approach to their budgeting and spending practices. COVID-19, and the economic turmoil it caused, led to consumers pulling back on non-discretionary spending and being even more diligent about seeking value: 37% of adults said they have been budgeting even more since the pandemic.

COVID-19 has also caused consumers to think about what it is they truly value and their priorities. More consumers don’t want to “sweat the small stuff” anymore, instead refocusing energies on their passions and friends and family. Their attitudes toward consumption, or rather overconsumption, are shifting, with 57% of adults actively trying to reduce the amount of tangible goods they buy. This is obviously a threat to retailers that sell tangible goods, but many opportunities remain to connect with value-conscious consumers.

Future Market Trends for the US Value-Conscious Consumer

One of the biggest opportunities for brands is to consider participating in the circular economy, which could include offering preowned items for sale, enabling platforms that allow for peer-to-peer selling, offering trade-in programs or allowing customers to rent items on a temporary basis versus buying them outright. Experiential retailing (and gifting) should also see gains in the future as consumers place more value on intangibles over tangibles.

Read on to discover more about the US Value-Conscious Consumer market, read our US The Budget Shopper Market Report 2017, or take a look at our other Retail Market research reports.

Quickly understand

• The impact of COVID-19 on consumer behavior and the retail industry.
• Consumers’ budgeting tendencies and value-seeking behaviors.
• How consumers think about convenience and quality.
• Consumers’ shifting attitudes pertaining to purchasing and ownership.

Covered in this report

Brands include: Amazon, Affirm, Walmart, Target, costco, Kroger, Macy’s, Gap, Kohl’s, Bed Bath & Beyond, Good & Gather, JCPenney, Big Lots, Dollar General, Old Navy, Aldi, Nordstrom Rack, Bloomingdale’s.

Expert analysis from a specialist in the field

This report, written by Diana Smith, a leading analyst in the Retail and eCommerce sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.

Retailers should view every consumer as value-conscious and work to understand the different dimensions of value to best serve customers’ varying needs and motivations. Essentially, everyone appreciates a good deal, and some shoppers will go to great lengths to find one. Retailers who consistently offer affordable prices and flexibility will continue to earn preference. But it is the retailer that can dimensionalize value and continue to elevate convenience, prove the quality and efficacy of its products, offer superior service and proudly stand up for social, cultural and environmental causes that will win in the long run.

Diana Smith
Associate Director, Retail and eCommerce