All about value
How to win in this critical battleground driving consumer trustFriday 21 October 2022
In this, our 12th annual Retail Proposition Index, published at a time when consumers are grappling with cost-of-living pressures and confidence is at a 50-year low, we reveal how consumer attitudes and behaviours are shifting.
While trust was previously underpinned by associations of product safety and reliability, our report suggests the way retailers must build trust has changed dramatically. With 80% of consumers saying price influences most of their shopping behaviours, and value is now a core consideration in the trust equation. The number one way for retailers to now build trust is through setting and communicating fair pricing and value.
This creates a new set of imperatives for retailers to build resilience and position themselves for success. Here’s our four-point action plan for retailers to survive the consumer confidence crash.
- Protect trust with fair pricing as you manage inflation
- Re-engineer your business model to deliver value
- Realise the value of your physical portfolio
- Do not compromise on sustainability
Our latest Retail Proposition Index looks at these key trends shaping consumer behaviour, and how UK’s top performing retailers are responding to meet and beat customer expectations.
We have detailed ratings for 700 retailers across a number of dimensions and how they compare vs peers.
If you would like to discuss our findings or are looking for more information on The Retail Proposition Index, we'd be delighted to talk.
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