The Guest’s Changing Value Equation – Where to Shop?
Need to know how a consumer determines whether a trip is worth it or not? At Jacobs, we call the reasons that a Guest decides to shop at a particular retailer, the Value Equation. It is a combination of “value components” that a Guest considers. In these complex times, we are finding that the Value Equation, which normally rarely changes, has changed dramatically.
What used to be very important, may not be important at all anymore.
Conversely, some things that were never top-of-mind, are now of critical importance.
The OLD equation: V = AE3QS
Avg. Weighted Price +
Ease: Product Findability +
Ease: Proximity +
Ease: One-Stop Shop +
Service: HelpfulTeam Members
The NEW equation: V = SPE4QSC
Shelf Price +
Product Availability +
Ease: Access +
Ease: Delivery Options+
Ease: Stock-up +
Ease: One-Stop Ordering +
Contact Jacobs to talk more about this new Value Equation. We can help with two equally important questions you should be asking and answering:
1. How are the various retailers in the marketplace delivering against this new Value Equation?
2. How is the Value Equation changing as we move from one phase of this new world to the next?