Today’s savvy shoppers want transparent, consistent pricing. They are connected consumers and they scrutinize prices, at the touch of a button
More than one half (58%) of global shoppers agree they expect prices to be the same wherever they buy an item. This number is high across the board and especially so in young and growing markets such as Brazil (69%), Turkey (72%) and India (74%) but also in mature and digitally savvy markets such as UK (63%) and US (65%).
To demand a price premium, you must offer shoppers more value – extended warranties or exclusive private label products. Stores will cover their costs by adding other services such as cafes and crèches, not by charging higher prices.
Having a deep understanding of shopper behavior, price-matching and a unique offer will be the key to success in the retail of the future.