By: Allison Febrey, Manager, Research & Insights, FMI
Getting “good value” for groceries has become increasingly important for shoppers over the past year. Nearly all shoppers (87%) consider “getting good value” when shopping for food and groceries a high or top priority.
Value is often understood as some combination of price, quantity, and quality. Despite heightened concerns about rising prices, in practice price is not always king, the “right size” varies by occasion and category, and quality embodies
a range of attributes. Shoppers’ notions of ”value” have expanded and become more nuanced, shifting from a simple price-quantity ratio to a more complex matrix of personal values, needs, and priorities.
Emerging dimensions of quality, relevance, experience and convenience are bucking the long-held definition of value being measured by a simple equation of higher quantity at a lower price. Explore these dimensions of value in the below infographics: