ECRM/WSL Insights: Addressing Cost-Conscious Shoppers 9/13/2016
One of the biggest competitors that retailers and brands face today is not other retailers and brands, but rather -- consumer debt. According to research from WSL Strategic Retail, more than half of consumers today say their No. 1 priority in terms of how they spend their money is paying off debt and saving.
This doesn't mean that they are more inclined to shop for bargains; however, they do want to make sure that they are getting great value for the dollars they do spend. "When the shopper is standing at the shelf and deciding what to buy, your brand must give her reasons not to switch to the lowest price," says Wendy Liebmann, CEO and Chief Shopper at WSL.
In the video below -- the latest in an ongoing series of shopper insights videos from ECRM and WSL -- Liebmann discusses how these more fiscally-responsible shoppers are evaluating products at the shelf, and what brands and retailers can do to provide value to these shoppers.(Click here to see WSL's first video on Mobile's impact on shopping in the store).
For more information on how WSL Strategic Retail can help you, visit www.wslstrategicretail.com
