Placing the priority on reasonable prices

The results of the Baromètre 2019 de la Valeur Shopper® [Shopper Value Survey] have revealed that, for more than one out of two French people, the criterion ‘Find what I am looking for’ has knocked price off of its long-held top spot. Although still a factor, the latter is no longer sufficient. Jean-Marc Mégnin, General Manager of Altavia Shoppermind, breaks down this shift in consumers’ fundamental expectations.

“In 2019, the criterion ‘save money’ fell to second position in the ranking for the first time for all sectors surveyed, excluding clothing.

For 27.8% of customers, this means that a brand offers a good quality/price ratio, while for 25%, it means advantageous promotions. These figures demonstrate customers’ desire to take advantage of reasonable prices and that saving money is subconsciously perceived as a right.

The concept of low prices is now associated with brands that have made this their DNA, as is the case for Leader Price, Lidl, Action, and AliExpress. Consumers are also conscious of their contribution to the price war, of which they have had enough. It has already gone on for 4 years, and has paradoxically cost businesses a great deal.

The right price? Consumers expect to take advantage of their store cards. And if they are willing to pay more, it is because they consider that the balance between what they accept to pay and accessibility is reasonable.

The breakthrough of new criteria

Consumers no longer expect to hear about low prices, but rather reasonable prices… as well as about information, safety and responsibility.

Biocoop, France’s favourite brand in 2019, perfectly embodies this decline in the weight of the price criterion and the increasing importance of other values. Indeed, it may not be one of the cheapest brands, but it has the best overall score across all 10 key customer expectations assessed by the survey. 84% of those surveyed placed it in the ‘brand with values’ category, the highest rate for the entire food sector.

The results of the Baromètre 2019 de la Valeur Shopper® confirm that the trend already observed over the past three years is continuing: customer expectations are becoming more global. Of course, they remain transactional and based on price, proximity and time. However, clients increasingly want to take back control and become actors in their purchases as well as in their purchasing process, which now comes in many forms. They also want greater transparency with regard to brands’ values and commitments, but also with regard to the quality of its services, particularly in store.”