Issue Value is judged on durability, versatility, and resale, not on price alone

Summary

McKinsey argues that resourceful consumers have made the competitive landscape more complicated for businesses. Winning on price alone no longer works, because shoppers weigh several aspects of value at the same time. Besides the initial price, they consider how long a product will last, how many uses it can serve, and whether it can be repaired or resold later. The report says this requires companies to rethink how products are designed and positioned. It calls for more emphasis on durability, craftsmanship and multi-life use so that items keep their value and are seen as resalable investments. Firms that compete only on sticker price risk losing to rivals that deliver value across the whole ownership cycle.