1. Price does not equal value.
2. As brand loyalty increases, consumers are less sensitive to price changes.
3. Private label enjoys loyalty too.
Concluding recommendations come straight from the report:
- Invest heavily in establishing and strengthening brand loyalty, focusing in on and delivering against the most meaningful needs of key and target shoppers.
- Leverage frequent and granular assessments of core and target shoppers to ensure a comprehensive and always-current understanding of value drivers for key categories and brands.