UK shoppers say retailers need to provide high quality products in order for them to feel that they are getting good value, according to new research.

Shopper Insight: Value Retailing, from food and grocery think tank IGD, found that quality is key to determining good value, with 70% of shoppers saying retailers should offer high quality products. 

"Our research found that whilst competitive prices are important, this does not mean that shoppers always look for the lowest price. They are looking for value for money and judge the value of a product on more than just price. The key factors that determine this are high quality products, lowest prices and high standard of customer service. Getting the balance right between price and the other factors is the key to success," said Joanne Denney-Finch, chief executive of IGD.

After quality and price, which are more specific to actual products, many of the other factors relate to the overall shopping experience. Good customer service is the third most important indicator of value (47%). Making shoppers feel valued as customers improves the whole shopping experience. Other elements important to shoppers when thinking about value include having lots of choice (39%), promotions (34%), a good shopping environment (33%) and facilities like good parking (27%).