This post was created in partnership with Fetch
Key takeaways
- For consumers, price certainly matters, as consumers seek the best value when they purchase.
- Value is more than just price; it can also include rewards programs, consumer experience, and product use.
- It’s easy to fixate on metrics, but lifetime value shows the impact of building relationships, while new approaches can reach new consumers.
Consumers aren’t spending less this holiday season. But they are becoming more selective about what they buy, weighing price, quality, convenience, rewards, and the experience a brand provides.
During an ADWEEK House Advertising HQ group chat co-hosted with Fetch, industry leaders discussed how changing shopping habits are redefining value, how shoppers decide what’s worth buying, and how brands can turn holiday transactions into lasting customer relationships.
Decision-making before the cart
Jacqueline Willemsen, general manager of omnichannel and agency at Fetch, urged marketers to consider the trade-offs everyday Americans face this holiday season.
“Those trade-offs are important for us to understand. We need to understand what value means to them,” Willemsen explained. “We know that it’s not just a price war where discounts earn their attention. We have to find ways that create a relationship with a consumer.”
Jessica Brown, executive director of marketplace and partnerships at WPP Media, pointed to an earlier hurdle in the purchase process: decision fatigue. She said brands and shopping platforms need to “make it easy for consumers to make a decision.”
Brown noted that while shoppers feel the pressure of inflation, spending hasn’t slowed. Willemsen added that Fetch’s data shows consumers are actually spending more but changing what they buy to get better value.
When deciding which purchases are worth it, shoppers are also looking for ways to come out ahead. Alex Stone, SVP and managing director of enterprise partnerships at Horizon Media, explained, “Consumers are trying to win with every purchase.” “They want more value from what they’re buying.” He added that knowing they’ll earn extra points for buying a particular CPG brand factors into their decisions.
