Fight inflation without losing customers: A study about consumers' reactions to price increase
On-demand webinar - Duration: 58 minutes.
The world economy is facing turbulent times as energy and food prices surge due to Russia’s invasion of Ukraine.
Inflation creates uncertainties for companies and consumers. To determine how consumers respond to a higher price, companies should run tests with different target groups. For example, loyal customers will react differently than non-loyal customers.
Cambri has conducted research into consumer perceptions of price increases in the UK and the key European markets. This study aims to better understand how inflation is affecting brand image and purchasing decisions.
In this webinar, Dr Somervuori and Dr Dube present the Report about Consumer Reactions to Price Increase and their recommendations on what companies should do:
- How high can you raise the prices without losing customers within a specific target group?
- Can you make consumers feel they are getting more for the higher price?
Price increases are better justified when they come with added value!
Get your access here