DIGITAL and data firm The Wholesale Company (TWC) has found that consumers are willing to pay a little extra on price marked packs.
According to TWC’s study, conducted across August and September, the market research firm found that 62% of retailers agreed that their shoppers would still be willing to buy price marked packs (PMPs) even if suppliers raised the price.
In comparison, only 10% of retailers believed that their customers would no longer continue to buy PMPs should their price increase.
TWC said this research indicates that consumers are more drawn to the price flash on PMPs rather than the specific price point itself, with 78% of retailers agreeing that they demonstrate a better value for money to their customers.
Tom Fender (pictured), development director at TWC, said: “There is no doubt that consumers like price marked packs and their role in communicating value is critical at this time, with the ongoing impact of the cost-of-living crisis.
“Independent retailers have their own challenges in managing the rising business bills for running their stores – and product margins need to reflect retailers’ costs in 2022, as well as wholesalers’ margins.”