How to cater to the budget-savvy shopper
Today's consumers are busier than ever managing work, family and social lives while also trying to meet their nutritional needs without breaking their budget. CPG brands and retailers that make it easy for shoppers to find healthy, affordable food will win loyalty from these busy, budget-savvy shoppers. Here’s how to succeed:
Our research shows that the majority (74%) of shoppers prepare by making a shopping list ahead of time, whether on paper or digitally and nearly half (44%) of shoppers estimate the total basket cost beforehand. When selecting a store, key factors shoppers consider include:
General product prices 75%
Sales promotions and coupons 71%
Location of the store 70%
Product selection 64%
Product quality 60%
Product freshness 54%
Source: 84.51° Moments that Matter Custom Research, October 2023
Opportunity: Provide tips for maximizing sales promotions and loyalty programs to help shoppers stay within their budget.
Once in the store, customers are looking to cross items off their shopping list—but they’re open to discovering new items as well. The categories where shoppers are likely to purchase a new item instead of a planned item include:
Fresh bakery 46%
Household cleaning 38%
The categories where customers often buy a new item in addition to a planned item include:
Frozen food 19%
Opportunity: Make it easy for shoppers to be adventurous in addition to following their list with in-store displays, advertisements and coupons—the top three ways customers report discovering new items.
Understanding and catering to the needs of busy, budget-conscious shoppers is key for winning loyal customers. Providing tips for maximizing promotions and loyalty programs and opportunities for shoppers to discover new items are just some of the ways brands and retailers can build a positive customer experience, earning share-of-stomach and wallet.
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