Deloitte finds consumers increasingly prioritize value over just low prices amid inflation and looming tariffs, even willing to pay more for favorite brands.
As inflation remains ever present and global tariffs loom, Deloitte found that consumers are seeking products that offer value as much as a good price.
A March survey from UserTesting found that shoppers in the U.S., Australia, and the United Kingdom were willing to pay an average of 25% more for their favorite brands.
“Consumers are more discerning than ever, weighing the value they receive with their purchases,” said Mike Daher, vice chair and U.S. consumer industry leader at Deloitte, said. “And while low-income earners may look for value out of necessity, higher-income households increasingly put value at the top of their shopping lists.”
The research came out at a time when several brands — including Lululemon and Nike — have instituted mild price hikes due to the uncertainties around tariffs.
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“As economic uncertainty lingers, consumers across demographics actively seek brands that deliver value, whether through quality, trust, friendly attitudes, or a combination thereof,” Daher said. “No matter the industry sector, MVP brands that get pricing right and boost consumer perceptions of their value will be well positioned to attract consumers, increase their margins, and build long-term loyalty.”
