Price alone no longer defines value for consumers, according to a new report that found shoppers are increasingly focused on getting more for their money, with value-seeking behaviour becoming widespread across income levels.
According to Deloitte’s The Value-Seeking Consumer report, four in 10 surveyed qualify as value-seekers — consumers who regularly engage in cost-conscious behaviours such as cooking at home, switching to store brands and waiting for deals. Deloitte’s Value-Seeking Behavior Index rose 10 per cent between September 2024 and April 2025, reflecting a shift toward cautious spending amid economic uncertainty.
While lower-income households often seek value out of necessity, higher-income earners are also cutting back. Nearly one-quarter of consumers earning $200,000 or more identify as value-seekers, and they plan to spend 50 to 60 per cent less on discretionary categories like dining, apparel and entertainment compared to their peers.
“Consumers are more discerning than ever, weighing the value they receive with their purchases,” said Mike Daher, vice chair and U.S. consumer industry leader at Deloitte. “And while low-income earners may look for value out of necessity, higher-income households increasingly put value at the top of their shopping lists. As economic uncertainty lingers, consumers across demographics actively seek brands that deliver value, whether through quality, trust, friendly attitudes or a combination thereof.”
The report noted that inflationary spikes in recent years have left lasting effects on how consumers perceive pricing and value. Even as inflation eases, brands face pressure to prove they offer meaningful value. Deloitte’s analysis shows that while price perceptions account for most of a brand’s value perception, 10 to 40 per cent comes from other factors such as quality and customer experience.
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