Brands Succeeding in the Race to Capture the Value-Driven Consumer Market

Reports suggest that a large swathe of the consumer market has pivoted more from being entirely price-conscious to seeking more value for their money. Given what’s occurred since the turn of the decade, a tightening of purse strings has only been natural. Over the last year or so, though, while lower prices continue to be desired, value is increasingly becoming the deciding factor for customers where prices are similar.

It’s a clear move towards a more value-seeking mindset, as shown by the Consultancy survey that revealed a notable decline in cost being the key influencer in purchases. There’s still over 60 percent of people citing price as being the biggest factor, but more are also taking value into consideration more. While this has been happening, we’ve seen a few key brands beat the competition with a combination of lower prices and extra value.

Undercutting the Streaming Wars

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One of the big stories of the last few years was the rampant overexpansion of existing streaming platforms and more names joining the fold. It resulted in a wave of layoffs, a decline in writing quality, prices going up, and companies like Apple reassessing their options, such as by moving away from their box office aspirations. Netflix notoriously upped its prices, stopped password sharing, and has dabbled in adverts for lower subscription rates.

Instead of pulling the rug out from customers, Pluto TV entered the scene as an entirely free streaming platform that outright says that it’s supported by adverts. So, it’s like the normal television experience, but where you get to stream from a vast library. Being free with ads isn’t always very appealing to customers, so Pluto TV had to add high-quality content, which saw them bring in South Park, Penny Dreadful, CSI, The IT Crowd, Misfits, and many great movies.

Classic Low-Cost Entertainment

While streaming has become the go-to way to enjoy shows and movies in the evening, others seeking more active entertainment can turn to a great many form of game these days. However, modern board games and video games – even those that are free-to-start – are rather expensive. Still, there are brands bringing back classic forms of entertainment that were always low-cost.

One key example is bingo. As a result of the popularity of bingo halls, developers have created online versions of the well-known game, with online bingo platforms thriving and continuing to expand their low-cost options. Minimum bets remain low across the board, even when it comes to the blended game format of Slingo bingo. Here, the game is an amalgamation of slot play and bingo, creating a new experience that mixes the number daubing classic with the most popular online casino games going – slots.

Humbling Prices

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If there’s one arena that’s seen pricing as the most competitive part of the business for a long time, it’s supermarkets. Price-match adverts have been rampant for decades, and in recent years, it’s been all about price-matching Aldi. Winner of Brand of the Year in 2022, as MarketingWeek writes, the supermarket has complimented its low pricing with a focus on local produce, even introducing the humble carrot Kevin to be its mascot to reflect this brand ethos. Now, it’s in the so-called “big four” grocers.

In all of these cases, while needing to come in at low prices, more than an eye has been kept on the quality of the products on offer. This has put them in good stead as customers have begun to trend up away from the lowest common denominator to wanting more value in comparable purchases.