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Home > Blogs > Here's the Deal > Archives > 2009 > May > 26 > Entry
What is the new definition of value? $1
In this recession-minded economy, it seems more unusual to see an item that isn’t on sale than one that is. And those sales are significant.
On this theme, USA Today had an article last week that took a look at how the food industry has taken a cue from fast-food restaurants, and have been offering their own versions of the $1 menu.
The story cited the tactics of Walmart, Kraft, Unilever and Campbell, which are using the magical $1 price to tap into the trend of people eating and cooking more at home.
“It seems like that’s the definition of value,” said Tom Vierhile of the $1 mark. Vierhile is a research director with Datamonitor, which tracks marketing and consumer products. “You have a whole segment of retail built around it. And it has a ring to it.”
Of the $1 deals, Kraft is promoting grilled cheeseburgers for $1, Walmart is pushing more than a dozen items as a “nutritious breakfast” for about $1 a person and Campbell is testing a $1 price for some condensed soups at select outlets instead of the usual $1.59.
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