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Polarised consumption to mark retail in 2023

Mon 13/03/2023 by Richard Wilkinson

The Aecoc Retail Knowledge barometer ‘Retail Trends 2023’ confirms the polarisation in consumption that is currently taking place and that leads companies to position their brands and products based on price or value. This has led to the formation of distinct discount and premium markets.

The results of this study, which analyses the trends in international consumer goods distribution in 2023, show that for 60% of consumers, their priority when making purchases is to be able to buy them at the lowest possible cost.

However, demand for products linked to quality, health and sustainability is proving to be more resilient to price changes. The data shows that 38% of consumers are willing to pay more for high-quality products, 19% do so for healthy items and 15% prioritise local purchases.

“Price currently conditions purchase decisions and, in this context, consumers respond to products and services positioned in terms of savings or high added value. This polarisation means that proposals that do not respond to any of these attributes run the risk of being left out of the game”, said head of business development at Aecoc Retail Knowledge, Natalia Marcó.

 

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