JACKSONVILLE, Fla. -- Shoppers making less than $45,000 a year are purchasing groceries less frequently from "quick trip" stores such as convenience stores and drug stores, while shoppers with incomes of more than $100,000 are increasing visits to mass merchandisers, according to Acosta Sales & Marketing, which has released its bi-annual "The Why? Behind The Buy" report.
Acosta is a leading full-service sales and marketing agency in the consumer packaged goods (CPG) industry. AMG Strategic Advisors, Acosta's growth strategy consulting unit, compiled the research, which shows that the sluggish economy continues to divide consumers into two income groups, further influencing current purchasing trends.
The report offers 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.
It revealed 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.
"Today's purchasing and marketing trends are reflective of a continued challenging economic climate," said Acosta president and CEO Robert Hill. "Shoppers are still budget-conscious, leading marketers to use discounts to spark demand. By helping CPG and retail marketers truly understand current and future shopper needs, and providing strategies to address them, 'The Why? Behind The Buy can help them capture a greater share of consumer dollars."
The report was produced with research from a random sample of 1,098 shoppers via Acosta's proprietary ShopperF1rst online survey. To access the full report, visit www.acosta.com/why.
Acosta provides outsourced sales, marketing and retail merchandising services to move products off shelves and into shoppers' baskets, ensuring clients achieve their true sales potential. With more than 22,000 associates in 65 locations throughout the United States and Canada, Acosta represents more than 60% of the top brands in the CPG industry.
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