Customers choose quality over price - most of the time

Tough economic times make it difficult to get the edge on the competition. But, as Claire Richardson explains, consumers would rather choose a good quality product or service over a tiny price tag.

by Claire Richardson

The last four years have not been easy for businesses in the UK. But, it’s fair to say that they have not been as cruel as many feared they might be, and there are now good reasons to believe that the economic ship is on course for calmer waters. 

Nevertheless, business leaders have cause to remain cautious; no sooner had time been called on the double-dip recession but the doom-mongers had raised the dreaded spectre of a ‘triple-dip’. Since hysteria is the default state for many commentators, it’s understandable that business judgement occasionally becomes clouded. That makes hard facts especially valuable, and doubly so when they can be interpreted as a clear call to action. 

One survey, carried out by Verint and Ipsos-MORI, suggests that only 23% of consumers in the UK rate price as a more important factor in their purchase decisions than service across high-street retailers, pay-TV, broadband, financial services and utilities.

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