Is the ‘give me a deal’ trend finally over? During the height of the Great Recession, many economists said that consumer behavior had fundamentally changed. Deals and discounts were now expected and this trend would last long after the recession was over. However, a recent survey of 408 top marketers by Duke University’s Fuqua School of Business suggests that “superior product quality” is now at the top of their customers’ minds, rather than a low price. Based on previous surveys, quality had already emerged as a top priority since at least August 2012, but the percentage of marketers who believe customers are more concerned with quality over price has leapt substantially between August 2013 and February 2014, from 22.7% to 31.0%. This doesn’t mean that customers aren’t attracted to deals; however, price is less likely to be the final deciding factor. What’s more, the need for a cheap deal fell from second place in August 2013 to fourth place in February 2014, trailing priorities related to trust and customer service. Source: emarketer, March 4, 2014 .
Posted on: Tue, 13 May 2014 14:15:21 +0000
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