PRICING FOR TODAY’S CONSUMER
We know you don’t always like to hear what we have to say, and some of our clients don’t either. However, they pivot because we’re right. We do our homework so you get the sales. The pandemic and the resulting inflation have changed everything. Here’s why:
- THE AVERAGE CONSUMER IS TAPPED OUT: Lower-income and even middle to upper-middle-income income are cutting back on their spending.
- PROCTER & GAMBLE SALES SLOWING: Even a huge consumer goods company like P&G sees “ that the consumer is under some level of stress.” — Andre Schulten, CFO.
- NOT JUST LOWER INCOME CONSUMERS: “Both consumer segments (low income and high income) are looking for value, but looking for value within their respective constraints,” said Schulten.
- WHAT DOES THIS MEAN FOR YOU? Creating more options. More price points. A menu.
- EXPAND YOUR OFFERINGS: Being open to offering more options to your customers on how they are able to buy. Not forcing minimums. Offering bonuses.
- MORE CHALLENGES: P&G CEO Jon Moeller says the company is now facing more challenges than at any time that he can remember in his 38 years, so we’re not alone.
If you haven’t expanded your offerings yet, and you need more sales, now is the time to do so.
Onward & Upward!
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