Consumer Insights Center

Pricing is critical to any business, and companies have an opportunity to drive value by reassessing their pricing strategies to make them more reflective of the current macroeconomic environment. This special report lays out several pricing strategy concepts and case studies to demonstrate how consumer businesses have put best practices into action by extracting maximum consumer willingness to pay through value-based pricing principles.

Now in its second year, L.E.K. Consulting’s Footwear and Apparel Brand Heat Index helps brands and retailers identify which brands are gaining popularity across different generations of consumers. In a survey of nearly 4,000 U.S. consumers between the ages of 14 and 55, hundreds of footwear and apparel brands were evaluated by product category , gender and generational cohort, namely, Generation Z, millennials and Generation X. The Brand Heat Index identifies brands on the most positive growth trajectory with these shoppers.

In a survey conducted by L.E.K. Consulting among consumer business leaders, roughly 90% said they were experiencing material inflationary impacts on their businesses, and this is true across the consumer economy. In this second of a 2-part series, we explore how businesses are responding to shifting consumer behavior caused by inflation.