Creating a pricing strategy is essential for the FMCG industry, as it allows supermarkets and grocery stores to attract consumers with competitive prices.
With inflation on the rise, 60% of consumers are paying more attention to the prices they spend on their goods, with nearly a quarter of them planning on switching to private labels to save money. When a company invests in a private label and engages in other effective pricing strategies, it can get ahead of the competition and establish customer loyalty.