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The New Value Paradigm: The Theatrics of Thrift
Hartman Group, The, Nov 2009, Pages: 76
The 'value' story is complex. There is no question that we have witnessed change in consumer behavior due to the recession. To what degree? Are they short-term or more permanent changes?
Since seemingly everyone wants to know about “change” and precisely because others have been quick to jump on the 'Recession's turning consumers permanently into tightwads!' bandwagon, we believe that this is all the more reason to get to the bottom of this most complex puzzle.
While the single biggest question seems to be, 'Will consumers resort to their old habits when (or if) the economy rebounds?' there are many others. Have consumer entered a new era of frugality? Are consumers in CPG and food retail arena trading down or making sacrifices? And, perhaps most importantly, what of 'value' itself? The answer to these and many more questions can be found in the pages of The New Value Paradigm: The Theatrics of Thrift.
This report will undoubtedly cause many to rethink conventional wisdom. You see, consumers are responding to the recession and the events around them with a repertoire of thrift seeking behaviors. Simply engaging in these thrift seeking behaviors helps to alleviate our collective anxieties. Consumers have redefined their understanding of what constitutes value. In addition to the classic formula of price, quantity and quality--a formula which is different for every consumer on every occasion--value now includes concerns with consumption.
What’s Inside
The New Value Paradigm provides a provocative, consumer-centric explanation for what to expect from consumer and shopper behaviors as we take the slow path toward economic recovery. The report provides the new consumer understanding for “value” and its implications for CPG companies and food retailers.
Categories Up Close: Bottled Water, Generic Store Brands, Premium Store Brands, Local Products, Fresh Produce, Natural Products, Organic Products, Fresh Prepared Foods
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