Here's a sign that's sat outside Wholefoods on Union Square, NYC. Price matters in today's economy – and we get the impression that retailers that have spent a long time developing an image of quality are having a spend even more time right now battling the idea that they are therefore more expensive. Here's an interesting piece from the Minneapolis Star Tribune about the woes of Target and their image:

Part of the problem is that, much as Target has tried to trump up the “pay less” side of its slogan, consumers don't believe it. “The perception is that because it's more visually appealing than Wal-Mart, that prices are higher,” said Stephanie Hoff, a retail analyst with Edward Jones in New York. “They're just going to have to figure out a way to communicate that to their customers better. They're trying to do that, but it could take some time.”

EXCLUSIVE MEMBER CONTENT
PSFK provides access to this article and every report, case-study, interview, and analysis that we publish for our members. PSFK Professional Membership also unlocks accessto unlimited customized research assistance and our database of over 100,000 insights on innovation trendspanning across eight industry sectors—from culture and brand to retail and customer experience.
Already a members? Log in