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Shoppers are hyper-focused on ‘value.' That doesn't mean buying the cheapest option

·1 min

American households are still looking for value when they shop, but that doesn’t always mean buying cheap products. Despite higher inflation and interest rates, consumers are actively seeking deals while being selective. Discount retailers like Walmart and Costco have seen increased sales in the first quarter. Surprisingly, stores known for more expensive non-essential items are also experiencing a boom. Value shopping is no longer solely about finding the lowest price, but about purchasing products that are desired and offer quality. Retailers like Abercrombie & Fitch and Williams-Sonoma have seen sales growth by offering trendy, well-made products. Gap Inc. has also seen same-store sales increase by focusing on quality and celebrity collaborations. Shoppers are willing to spend more if they see value in the products they purchase.