Expertise

The New Value-Minded Consumer Matters

Kelli Anstine

As consumers evolve, retail evolves. Tracking and knowing these changes is crucial in connecting consumers with brands.

At Bernstein-Rein, we believe retail intelligence comes from consumer insights, a true brand purpose, and half a century of unrivaled experience. We put these beliefs together to accelerate growth. This approach is called Retailigent™ – it's what drives our work every day.

Here’s How We Made them Retailigent

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Over two-thirds of Americans are MetaTasking everyday. And they’re in your stores.

‍As consumers evolve, retail evolves. Tracking and knowing these changes is crucial in connecting consumers with brands.

The new value-minded consumer’s quest to spend smarter is transforming the retail landscape. And this pursuit of value is not defined by age, income, or address — but by how consumers think. Today, consumers are acting in a new way. Upended by a pandemic. And then the economy. Empowered by technology. Compelled to manage needs and wants. They are shaped by a mindset of spending smarter and driven by an approach of fiscal responsibility. Molded by the ongoing fluctuations of the economy, the value focus of consumers constantly evolves how they make ends meet.

The term value can take on multiple definitions. What was once simply defined as “worth in money” has now taken on new aspects. Consumers have adjusted their personal definition of value — and so today, frugality is more than just a price/quality equation.

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We’ve been tracking these value-minded consumers for decades. They’re complex, they are ever-changing, and they know exactly what they want and need. We call them METATASKERS™ — and we have developed a complex algorithm to track them.

‍They are busy balancing convenience, selection, knowledge, experience, and price — to affirm that a transaction meets their very specific needs. And they are expert value creators with up-to-date tools and networks, leveraging them to keep their desires in sync with their household or personal needs.

They know the retail game and are willing to play. Because in the end, it benefits them to know the game, to game the system, and to keep their budget in check.

With in-depth knowledge of how they shop, we have keen insights into who they are. Perspectives on how they shop retail today, how they zig and zag through the economy, and even which brands are important to them.