According to a global study (PDF)on how consumers define value 80% of recession shoppers want companies with a human face. Consumers prioritize quality and service over slashed prices.

The survey found that quality and service are the driving forces behind consumer purchase decisions in the current economy. In fact, compared to February 2008, nearly 25% more consumers polled reported that they buy based on quality, not price.

In the current economic climate anxious consumers are focusing more than ever on value. Value, however, is much more complex than simply price alone; it’s about both value and values. And that presents a major opportunity for the marketers who can unlock the new value code now and in the future.” according to the press release.

There is a tremendous opportunity for marketers to resonate with consumers by communicating brand value as a core commitment to quality, tradition and customer service. The key is to break through consumer anxiety and reassure customers that they are making intelligent purchase decisions for themselves, their families and the community at large. More consumers are looking online or shopping during off-peak hours more often to find quality goods and services for a better price.

Image by www.businessweek.com

Customer service also plays a larger role in the current economy. According to the study, more than 80% of those polled want companies to show a human face. Going beyond price, a majority of consumers reported that top-notch customer service (67%) and trust in a company (58%) factor into their purchase decisions, while fewer consumers emphasized the importance of a company’s commitment to making a difference (38%).

Via marketingcharts.com