Key value items (KVI)

What are Key Value Items (KVI) and how do they impact pricing decisions in retail?

Key Value Items (KVI) refer to a selection of products that are extremely important to customers and are frequently used as benchmarks to compare prices among different retailers or sellers. In the world of sneaker reselling, KVIs would be those sneaker models or brands that consumers are highly aware of, and they often use the price of these specific sneakers as a reference point to judge the overall pricing strategy of a reseller or retail outlet. For example, if a popular sneaker model is being sold at a competitive price by a reseller, customers might perceive that reseller as offering good value overall, even if other less well-known sneakers are priced higher. Understanding and correctly pricing KVIs is crucial for sneaker resellers. By offering competitive prices on these high-profile items, resellers can attract more customers, build trust, and potentially increase sales across other items in their inventory. It's a strategy that revolves around the perception of value. In essence, KVIs are not just popular products but are items whose prices greatly influence consumer perceptions and buying decisions. In the sneaker resale market, where prices can fluctuate greatly and perception of value can drive sales, correctly identifying and pricing KVIs can be the difference between success and stagnation.