What Defines Value for Modern Consumers

Great updated research from Deloitte ConsumerSignals: "The value-seeking consumer" As consumer priorities shift in today’s dynamic market, value-seeking behavior is taking center stage. Deloitte’s latest State of the Consumer Tracker highlights how consumers are redefining “value”—it’s no longer just about price, but also about quality, convenience, and personal alignment. Key takeaways: 🔍 Consumers are more intentional: Shoppers are making deliberate choices, seeking products and experiences that deliver the most value for their money. 🏆 Quality over quantity: Many are willing to pay more for items that last longer or align with their values. 📱 Digital tools are empowering: From price comparisons to loyalty programs, technology is helping consumers make smarter decisions. 🛍️ Retailers must adapt: Brands that understand and respond to these evolving expectations—offering transparency, flexibility, and meaningful engagement—are best positioned for success. Understanding what “value” means to today’s consumer is essential for building loyalty and driving growth. Explore Deloitte’s full insights here: https://buff.ly/8pNHzo8 #ConsumerTrends #Retail #ValueSeeking #DeloitteInsights Great research Mike Daher, Renee Bomchill,Stephen Rogers, Justin Cook

Consumers evaluate products based on perceived value versus price. While marketers have traditionally focused on pricing, true consumer value is intricate and multifaceted. To manage and deliver value effectively, companies must dissect it. Harvard Business Review identified 30 "elements of value" across four categories: functional, emotional, life-changing, and social impact. For instance, quality consistently influences advocacy, while digital companies excel in time-saving and convenience. To apply these insights, companies can refine product designs, address weaknesses, or stimulate new product ideas. Recognizing that value is as vital as cost management and customer loyalty, organizations should conduct customer surveys, analyze product and brand value, and appoint dedicated value managers. Understanding and delivering these elements can set companies apart, drive growth, and foster lasting customer loyalty. Let's embrace the complexity of consumer value to unlock new opportunities and elevate our offerings. 🌟 #ConsumerValue #BusinessGrowth #ElementsOfValue #marketing

The new 'value' is sustainability, and ignoring that value is leaving revenues on the table. Consumers have historically assigned 'value' to products/services that offer convenience, make them feel/look good or more powerful/intelligent etc. The transformation of earth in past few decades has made consumers 'value' sustainability more than other things. Hence, the consumers are now assigning higher monetary value to things don't harm the nature than what's more convenient or sexy. With this, the overall market consumption is not driven by quantity, but quality of product/service in terms of how good it is for the nature. If you're not strategising or developing a product/service that's aligned with what consumers 'value', you are truly leaving revenues on the table. Having doubts if the consumers of your product/service will value sustainability? Here's a survey done by Boston Consulting Group (BCG) for cars and washing machines.