answer: the re-aligned values and rising expectations of the post-recession, conscientious consumer.
October 18, 2010 – Digit #20
American consumers are re-ordering the market place for everyone –triggering a redefinition of value brands and high-end brands alike.
Is this Whole Foods …or Walmart?
Food authority Corby Kummer gave witness to the marketplace change in The Atlantic: “I had trouble believing I was in a Walmart…The first thing I saw, McIntosh apples, came from the same local orchard whose apples I’d just seen in the same bags at Whole Foods. The bunched beets were from Muranaka Farm, whose beets I often buy at other markets—but these looked much fresher.” source: theatlantic.com
“The local-and-sustainable food movement has spread to the nation’s largest retailer. In the United States, Walmart plans to double the percentage of locally grown produce it sells,” reports The New York Times this week. Is this Whole Foods …or Walmart?
Meanwhile, Whole Foods has moved away from its old “whole paycheck” perception toward a value-oriented “whole deal” approach while retaining its organic roots.
2010 DYG SCAN® values tracking underscores – and predicted – this duality (actually multiplicity) of expectations among consumers:
Post-Great Recession, consumers of every demographic will only part with their money when products and companies match their new “worth it” standard – it’s about price and a host of qualitative measures..
- rising thrift: 53% of all adults say they’re “thrifty”+11 pts since 2005
- fair price plus…
% who say _____ is “extremely important” when selecting a company to do business with:
has integrity and deals honestly: 84%
is respectful of customers: 82%
offers a quality product or service: 75%
Implications for Business: Expectations are forever changed – the consumer does want “the whole deal” now, whether you’re marketing luxury cars or produce. In purchases large and small, the consumer has become an everyday, quantitative and qualitative analyst.
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