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Path to Purchase IQ: The new consumer

News
April 05, 2022

The Pandemic’s Latest Effect

With inflation continuing to harshly impact U.S. consumers, recent insights from Kroger data analytics subsidiary 84.51 and its “February Consumer Digest” delved into how consumers are fighting inflation and the latest shopper trends and behavioral analytics.

The report pointed out that COVID-19 concern trended downward among shoppers as cases began to decline. In February, 68% of shoppers said they were very concerned with inflation. Of those shoppers:

  • 56% have been looking for sales and promotions more often;
  • 40% have switched to a lower cost brand; and
  • 34% are cooking from home and 30% are going out less.

If there was a need to cut back, 57% said they would cut out adult beverages, 56% would cut snacks and 46% would eliminate beauty items. However, while 56% said they have been cutting back on non-essentials like snacks and candy, the actual shopper behavior shows that units sold are flat and shoppers are still snacking. Overall, however, only 22% of consumers responded that they feel comfortable with their current financial state.

In terms of meal planning, consumers are looking for “speed and simplicity.” Many said they search for cooking inspiration. Thirty-five percent said they use Google, 33% use store ads, 21% use online sites such as Pinterest and 14% use apps on their phones.

Click to read the full Path to Purchase article.

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