Description

Consumers are more value-conscious than ever amid economic pressures. However, value is more than budget, as convenience, quality and premium all play a role.

Brittany Steiger, Senior Analyst, US Retail and eCommerce Reports

Table of Contents

    • Key issues covered in this Report
  1. Executive Summary

  2. Consumer Insights

    • Consumer fast facts
    • How consumers approach value
    • Graph 1: importance of value factors, ranked, 2023
    • Graph 2: importance of value factors, ranked, by budgeters, 2023
    • Graph 3: importance of value factors, ranked, by non-budgeters, 2023
    • Graph 4: importance of quality, ranked, by generation, 2023
    • Graph 5: importance of budget, ranked, by generation, 2023
    • Graph 6: importance of convenience, ranked, by generation, 2023
    • Graph 7: importance of premium, ranked, by generation, 2023
    • Budget-conscious consumers
    • Graph 8: consumers’ current approach to budgeting, 2023
    • Graph 9: consumers’ current approach to budgeting [NET] , 2023
    • Graph 10: year-over-year comparison of budgeting approach [NET], 2021 vs 2023
    • Graph 11: consumers current approach to budgeting [NET], by generation, 2023
    • Graph 12: consumers’ current approach to budgeting, by household financial situation, 2023
    • Graph 13: impact of inflation on spending, by household income and financial position, 2023
    • Budget-focused shopping behaviors
    • Graph 14: budget-conscious shopping behaviors, 2023
    • Graph 15: select budget-conscious behaviors, by household financial position, 2023
    • Graph 16: select budget-conscious behaviors, by household income, 2023
    • Graph 17: attitudes toward budget shopping, by budgeting status, 2023
    • Graph 18: select attitudes toward budget shopping, by generation, 2023
    • Graph 19: store brand switching, by race and Hispanic origin, 2023
    • Convenience-oriented experiences
    • Graph 20: convenience vs price, by generation and parental status, 2023
    • Graph 21: convenient shopping options, 2023
    • Graph 22: select convenient shopping options – speed and efficiency, by generation, 2023
    • Graph 23: select convenient shopping options – online and omnichannel, by generation, 2023
    • Graph 24: attitudes toward shipping fees, by generation, 2023
    • Graph 25: interest in in-store pickup, by parental status
    • Graph 26: interest in flexible payment methods, by household financial situation, 2023
    • Importance of quality and premium
    • Graph 27: aspects of quality, 2023
    • Graph 28: aspects of quality, by budgeting status, 2023
    • Graph 29: aspects of quality, by generation, 2023
    • Graph 30: select attitudes toward quality and premium, by generation, 2023
    • Graph 31: select aspects of quality and attitudes toward sustainability, by generation, 2023
    • Graph 32: aspects of quality, by race or Hispanic origin, 2023
    • Value perceptions of retailers
    • Graph 33: value perceptions of retailers, 2023
    • Graph 34: perceptions of affordability at select retailers, by household income, 2023
    • Graph 35: high-quality perceptions of retailers, by generation, 2023
    • Graph 36: value perceptions of warehouse clubs, by race and Hispanic origin, 2023
  3. Competitive Strategies

    • Marketing and advertising
    • Opportunities
  4. The Market

    • Market context
    • Market drivers
    • Graph 37: Consumer Price Index change from previous period, 2007-23
    • Graph 38: household financial position, 2021-23
  5. Appendix

    • Correspondence analysis
    • Consumer Data
    • Graph 39: [no title]

About the report

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Data

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