Why Retailers Should Focus on Value, Personalized Service and the Local Market

1. A higher focus on value. Value is vastly different from price. While price will continue to be the only important variable for the bottom third of the market, value for money (and time) spent has bubbled up as a decision point for consumers. The challenge for retailers is shifting from a price strategy to a value strategy. The two are related but are very distant cousins. A properly executed value strategy is much more beneficial to the bottom line than a low price strategy.