1. The Rising Value of Value.
- Author
-
Hanson, Angela
- Subjects
RETAIL industry ,LOW-income consumers ,CUSTOMER satisfaction ,CHAIN stores ,VALUE (Economics) ,CONVENIENCE stores - Abstract
The article discusses the rising importance of value for consumers and the need for convenience store retailers to highlight the value they offer. Many consumers are living within a budget and seeking ways to get the most out of their money. The price of products is cited as the most important factor in defining a positive shopping experience for consumers. Retailers must understand what shoppers want, how they want it, and what they are willing to pay for it. Emphasizing value through pricing, quality, selection, and experience is crucial for convenience store operators. The article also mentions the importance of customer perception and the potential for higher-priced food items to be seen as a value. Retailers should focus on their own brand identity and local market needs when developing promotions. Understanding the customer base is key to unlocking value. [Extracted from the article]
- Published
- 2024