noun
General Slang
KVI
· noun · retail
Known Value Item — the staple whose price shoppers actually have memorised.
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Definitions
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A KVI (Known Value Item) is the small set of products customers know the price of off the top of their head — milk, eggs, bananas, Coke, bread. Retailers price these aggressively, even at a loss, because shoppers use them as a yardstick for whether the whole store is 'cheap' or 'expensive'. Mess up the KVI price and the perception of every other tag in the building takes a hit.
“We can't move milk above $3.49 — it's the biggest KVI in the basket and customers will walk the whole store on the strength of that one tag.”
by community
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KVI In A Sentence
We can't move milk above $3.49 — it's the biggest KVI in the basket and customers will walk the whole store on the strength of that one tag.
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