State of the Industry Research Shows Increasing Price Sensitivity Opportunity or Obstacle?

For students learning about the 4Ps of marketing today, there is a clear winner: Price. The great recession forced shoppers to learn how to be frugal and spend smarter and trend data points to a permanent shift in shopping mentality. Now, amidst positively growing economic indicators, consumers have not unlearned their deal-finding behavior. In fact, price sensitivity has actually increased in the last year. In other words, frugality is here to stay. So marketers must adjust, while making sure they don’t lose their shirts in the process.

Let's first look at the market place. New shopper research (May 2012) reveals that in spite of an improving economic landscape, consumers have grown more price sensitive and more willing to work to find bargains in the last twelve months.



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