The world economy has been disrupted by the COVID-19 pandemic in an unprecedented way affecting almost every industry. Consumer priorities and purchase habits have shifted due to both the economic and public health crises.
In order to fully understand how deeply these disruptions have impacted consumers, RevTrax measured consumer price sensitivity across 6 industries and compared the results from the pre-pandemic period to the pandemic economy.
Price sensitivity is defined as the degree to which consumers' behaviors are affected by the price of the product or service. See our findings below.We've helped hundreds of brands over the past decade enhance their discounting and promotional strategies. If you'd like to learn how RevTrax can help you, contact us to speak to a specialist.