They’re one of the more modest members of the entire retail scene:
Unit price labels.
You know, the small, easily overlooked “cost per kilo,” “cost per gram,” cost per…whatever…designations printed on shelf tags.
Supermarkets and online retailers must comply with the Unit Pricing Code if they sell certain food-based grocery items. Unit pricing enables consumers to quickly compare products of different sizes and brands in order to work out which one offers the best value.
The real question is: Do shoppers look at unit prices?
As a company specialising in mobile audits and research, including in-store price checks, we recently conducted a study of Australian shoppers to determine the answer to this question.
In all, 73% of shoppers in our survey have referred to unit prices when making shopping decisions.
Additionally, we presented shoppers with 17 different product categories, from laundry detergent to frozen food, and asked: “For which of these…do you regularly look at the unit price information on the product’s price tag?”
As the results below suggest, many shoppers say they regularly examine unit prices on items like laundry detergent (64%), dish detergent (56%), beverages (56%), and household cleaners (53%).
It appears unit prices, as understated as they are, play an important role in the shopping habits of many.
Is The Price Right?
Wondering whether shoppers are seeing the right prices on your products? Incorrect prices—whether too high or low—can damage your brand’s image and drag down sales.
Mobile Audits take you inside stores anywhere, anytime to verify pricing information.