Understanding the Shopping & Savings Strategies of America’s Low-Income Consumers
Consumer definitions of value drive their purchasing; these definitions take into account consumer needs as well as cultural and personal values. Principal factor analysis identified four factors or themes among the list of potential meanings of “good value” and then identified which meanings comprise each theme.
The four factors are: Experience, Quality, Price/Size and Sustainability/Social.
Resources:
Report: The Business of Thrift: Understanding Low-Income and Value-Oriented Consumers