May 16, 2012
How Today’s Cost-Conscious Grocery Shoppers Tick
While grocers and CPG manufacturers are still figuring out how to navigate the post-recession economy, consumers are also trying to find the best ways to maximize their monthly spend.
A new research report sponsored by MaxPoint Interactive reveals the changing behavior among cost-conscious grocery shoppers as they move through the path to purchase in today’s post-recession economy.
“Reaching Today’s Cost-Conscious Consumer” reveals that the average monthly spend on groceries has steadily increased among the general population from pre- to post-recession. While spending continues to climb, nearly three in four respondents have made changes to their grocery shopping habits within the last year, becoming more cost-conscious before and during their trips.
Some of the ways cost-conscious grocery shoppers in the U.S. have changed their behavior include the following:
- Shopping Closer to Home and Shopping Multiple Grocery Stores
- Leveraging Coupons and Sales More
- Preparing Lists Before Shopping
- Using More Resources Such as Digital Channels to Prepare for Shopping Trips
- Heading to Recipe-Specific Destination Sites to Prepare for Shopping
“Due to the economy, consumers are shifting their shopping behaviors to get more for their money,” said Dianne Kremer, senior analyst at BIGinsight. “As consumers feel a pinch from rising gas and food prices, they are becoming more creative with how they spend their grocery budgets – shopping closer to home, going to multiple stores to get the best deals and looking online for coupons and offers.”
Other key findings:
- Average monthly spend on groceries has steadily increased among the general population from pre- to post-recession from $250.94 in August 2007 to $277 in August 2011. Among moms, it has steadily increased from $311.95 to $341.14 during the same timeframe.
“Digital is reshaping the grocery shopping experience in the post-recession economy, as consumers turn to new channels to help plan their shopping trips,” said Gretchen Joyce, MaxPoint Interactive COO. “By understanding what motivates today’s consumer, brands can tailor their shopper marketing strategies to ensure they are gaining mindshare and winning at the shelf-level.”
MaxPoint Interactive’s retail advertising platform helps to drive in-store traffic for retailers and brands.
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