As we all know that the consumer has evolved a lot. They have become smarter.
Consumer is not only the end user, they are also an influencer for further sales.
Earlier consumer use to just do a check with their knows and simply do the purchase. Now the purchase decision has two layers, 1st is review from known ones and 2nd searching on internet.
Even for buying a phone, we now have made a first step i.e. doing google to search on price, feature and comparison with other models. People do check price online but majority are still negotiating with the retailer to come closer or match that online price.
Let’s face it, any purchase cannot be done without a personal experience. A large chunk of customers still purchase online but just for the hack of getting better price and saving time. The Price factor will not stay too long as retailers will also be fighting either to have a different model to sell offline or to maintain price across all platforms.
Consumer will anyhow search for ways to save every single penny. Few countries have a very price sensitive market and they are being dominated with economic range of products. It will take time for people to understand that discounted or cheap product will always lack in quality and post sales experience.
Every extra cost that we pay to buy a good stuff is something that will always pay you back until the brand himself has nothing to do with customer stickiness.
A very deciding factor that I personally feel is:
Either you buy 1 unit of expensive product that works well for years or you buy 5 cheap products that does not work in total for a year.
Now you think and let me know in the comment section, what do you think on this.
Have a great day ahead !!