The sluggish economy continues to divide consumers into two income groups, further influencing current purchasing trends, says a new report from Acosta Sales & Marketing. The Buy study provides insights into the behavior and buying patterns of today’s shoppers, as well as actionable tips to help CPG and retail marketers adapt to the ever-evolving shopping landscape.
The report reveals that:
- There is a pronounced “Tale of Two Shoppers.” Despite divergent shopping behaviors, shoppers with annual incomes of less than $45,000, and shoppers with annual incomes over $100,000 are making purchasing decisions based on similar factors, including price:
* 55% of shoppers bought more items on sale than last year
* 71% of shoppers plan their trip before going to the store
* 88% of shoppers have bought Buy One, Get One offers
* 50% of shoppers cut coupons.
- The average monthly grocery budget has increased 11% to $309, reflecting higher unit prices. Shoppers are spending three times more on groceries than on eating out.
- Shoppers are creatures of habit, with 84% buying what they have bought before and three out of 10 planning to continue purchasing store brands even when their budgets increase.
- Today’s consumer is a multichannel shopper, moving across store channels to find the best deals and products, which is especially prevalent among higher income shoppers.
- The influence of digital marketing continues to grow as shoppers strive to increase productivity. Shoppers primarily use digital for pre-trip planning, with 36% of shoppers logging onto home computers, mainly to find coupons, and 20% of shoppers visiting brand and retailer websites.