MARIETTA, Ga. ? Rising food and gasoline costs, plus a somewhat unstable job market, have families from all economic levels, including the more well-to-do, are looking harder than ever at value when shopping. Retailers from 7-Eleven to Walmart are finding ways to provide more value to their customers, USA Today reports.
Value encompasses more than the actual cost of an item. Family preferences and quality merchandise are now part of the value consideration. ?It?s a new game, with America's retailers and manufacturers trying to satisfy consumers on multiple levels,? said James Russo, vice president of global consumer insights at Nielsen. ?There's a fundamental shift in consumer behavior, and retailers have had to adapt.?
Retailers have responded in a variety of ways. Walmart has refocused on the basics. ?Our customer continues to be under significant pressure,? said Duncan MacNaughton, chief merchandizing officer at Walmart. ?Our job as a merchant is to delay and mitigate that pressure as much as possible.?
7-Eleven has started touting value, especially in relation to its 7-Select store brand products, which debuted in 1998. ?Since the recession, consumers have been asking us for more value, and we've had to respond,? said Jesus Delgado, senior vice president of marketing at 7-Eleven.
The convenience store chain is spreading value beyond its private-label brands, such as a recent Gatorades special of two 20-ounce bottles for $2.
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