1 week ago
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In this edition of the Glossy+ Research Briefing, we unpack survey results from Bazaarvoice’s Shopper Preference Report which found that consumers are turning to strategic shopping tactics, like purchasing store brands and consulting online reviews, to stretch their shopping budgets.
Value pricing and authentic reviews drive shoppers now more than ever
A Shopper Preference Report from Bazaarvoice found that consumers who are worried about rising costs and inflation are using strategic money-saving measures to stretch their tighter budgets. Over half of the 8,000 global consumers surveyed by Bazaarvoice have permanently switched to store brands (57% of survey respondents) or to cheaper brands(54% of respondents). Nearly half of respondents (45%) said they will delay a non-essential purchase based on cost, showing shoppers’ willingness to walk away from a purchase if it’s not the right price or value.
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