Shoppers switching brands to save money | 2020-12-07 – Food Business News

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WINSTON-SALEM, NC. — Six in 10 consumers have switched purchase loyalty to less expensive brands since the start of the coronavirus (COVID-19) pandemic, according to survey data released by Inmar Intelligence.

The technology services company surveyed 1,000 consumers in November and found promotions are top of mind during the pandemic. Eighty percent of shoppers said they actively are looking for grocery deals, including promotions and coupons, and 92% said grocery brands should be doing more to provide cost savings options for consumers. Grocery stores that offer coupons or promotions were more likely to gain repeat business, with 59% of respondents choosing to shop at stores more frequently due to their promotions.

“The survey findings suggest that shoppers expect retailers and brands to provide more promotions and have expressed their willingness to try new brands because of it,” said David Mounts, chairman and chief executive officer of Inmar Intelligence.

Seventy-one percent of consumers said they actively searched for new types of grocery products or brands during the pandemic, and 83% said they plan to purchase those new products again. Price was the top motivation for trying new products, with 67% citing cost savings and 51% citing coupons and promotions.

Forty-four percent of respondents said the average number of coupons they redeem per week has changed since the beginning of the pandemic, and 41% said they have used a retailers’ mobile app to clip coupons. At the same time, 40% said fewer coupons have been available. This may signal an opportunity for brands and retailers to engage with customers to provide personalized promotions, said Holly Pavlika, senior vice president of corporate marketing at Inmar Intelligence.

“With additional stimulus still a question mark, and likely a ‘2021 thing,’ the economic pressure consumers are already feeling is growing,” Ms. Pavlika said. “Promotions have not been a priority for many trading partners during these past months, but data from our latest shopper survey shows that needs to change.

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