Holiday Edition: Shopper's Attitudes Toward Price Increases

“Getting results isn’t just about staying informed—it's about taking that information and turning it into decisive action. The following research from Stacked Marketer offers valuable insights, but the key is to determine how it applies to your business and then commit to acting on it. By doing so, you're not just staying ahead but positioning yourself to win in your market!"  Rick

Price increases are making shoppers more cautious

Even if shoppers decide to spend money—they will do their due diligence.

Compared to last year, shoppers have a stricter attitude towards prices increasing. Or better said, they realize the value they’re paying for doesn’t adjust with the increase.

Shoppers feel they’ve been taken advantage of even more than last year.

Around 85% of respondents (6% more than last year) think that they get less of what they buy at an increased price. 

They also think businesses keep prices high without any good reasons besides profit, with 12% believing supply chain issues are resolved.Not good.

What you can do: Provide top-notch customer service. Improve communication with customers, respond to emails, and strengthen relationships with your customers.

Yes, sometimes, price increases are inevitable. But try to provide at least the same quality and quantity after you up the prices. Customers will appreciate it.