The 7 drivers of Price Perception - and how you can influence them

The 7 drivers of Price Perception - and how you can influence them

The 7 drivers of Price Perception - and how you can influence them

22 February 2018

Research shows that shoppers generally believe most retailers are 10% more expensive than they really are. It doesn't take much to work out the negative impacts of having a poor price perception amongst your customers - lost footfall, loyalty and profit. 50% of your sales are driven by the store price image shoppers carry around in their head. On average, you may be cheaper than your nearest competitor, but that matters little if your customers perceive you to be more expensive.

But the good news is that Price Perception can be influenced by different drivers - and Price is only one of the elements that impact shoppers' decisions. To find out more about the 7 drivers of Price Perception, download our report and learn how to improve sales and profits without slashing prices.

 

 

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Managing Director at dunnhumby Price and Promotion

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