Retailers need to focus on value to maintain their share of decreasing consumer spending, said Susan Viamari, editor of IRI's Times & Trends report.
“Keeping value at the heart of everything is important, and everyone has a different definition of value,” she said.
“Retailers have to understand the definition of value in all of their stores. They need to understand the market for every store. Retailers need to deliver value on a very granular level.”