InMarket’s Post

Shoppers believe their grocery store makes 31% net profit! Reality is closer to 1% with at best 3%. That is not a good perception when the #1 thing consumers are most annoyed with (above politics) is grocery prices. This article has the title showing that shoppers believe government policies are creating food inflation, but grocers should be more wary that stressed shoppers feel grocers are making tons of money. https://lnkd.in/gw57qdFT #pricing #promotions #markdown

Frugal Families - For the year ending February 2024, consumers purchased groceries at an average of 20.7 different retailers, up 23% from the year ending February 2020. Compared to last year, grocery shoppers are making 8% more trips, and buying fewer items at each location. Sales of store brands were up 15% Y-o-Y for the year ending March 2023. This past fall, roughly two-thirds of consumers leaned heavily on coupons, up from 33% in 2021 (source: WSJ). Get weekly updates on the world economy (like this ⬆️) delivered right to your inbox - subscribe to 14 Fast Facts! Click here: https://bit.ly/3oZCF6V #foxcities #foxcitieschamber #regionalpartnership #14fastfacts #economy

Harking back to the days before supermarkets, Americans are dividing their food shopping among more stores to save money. Consumers bought groceries from an average of 20.7 different retailers between March 2023 and February 2024 according to data firm Numerator, up 23% from the same months between 2019 and 2020. In addition to visiting more stores, shoppers are also traveling to cheaper ZIP Codes to shop and pursuing loyalty programs and promotions in greater numbers, retail analysts say. Treasure-hunt grocery shopping is the latest example of consumers changing their behavior in response to the higher of prices in our lives, from the homes we live in to the daycares where we send our kids. Now, with groceries taking up the highest percentage of household budgets in 30 years, more shoppers are driving all over town in pursuit of deals. Keeping the household grocery bill under $250 a week now requires stops at Costco, Target, Publix, Sprouts and more. #inflation #groceryindustry #retail Rachel Wolfe

📰 Exciting news! According to Kantar and The Guardian, Britons are managing to reduce their spending despite the recent drop in grocery prices. This is a positive sign, showing how consumers are being savvy with their money. It's important to be mindful of our spending habits, especially during these challenging times. Let's continue to make smart choices and manage our finances wisely! Check out the full article for more insights into consumer behavior. #Kantar #TheGuardian #ConsumerBehavior https://ift.tt/Ww4zLrD

Have you seen the grocery store signs that say, “Buy one, get one,” or “Buy one at $4.99, or get four for $2.99 each?” It’s a concept called “spaving,” a time-tested marketing strategy designed to get consumers to spend more–perhaps more than they wanted. Spaving plays on your emotions, designed to promote an impulse buy because even the most disciplined shopper may be unable to pass up a deal. In some instances, the price-cutting promos work great for the consumer. But other times, “spending more money to save money” does not make sound financial sense. The accompanying chart shows that food prices have decreased since mid-2022 as companies have resolved food production costs, labor costs, and supply chain issues. The Consumer Price Index for “food at home” has been tracking right around 1% this year, but the recent price stability doesn’t offset the food inflation in 2021 and 2022. Other retailers are starting to feel the heat from bargain hunters, too. In recent weeks, Target, McDonald’s, and several others have cut prices as shoppers become more selective about spending as their budgets get squeezed. I’ve worked with several clients who were having trouble making ends meet. Some of them are retired and need to adjust to have more spending money. For some, their circumstances have changed (divorce, job loss, etc.) and they are working with less money in their budget than they had been previously. So, if you are feeling the pinch, please let me know. Sometimes, I’ve found that even the slightest change can make a big difference. Scott

US Shoppers Tighten Their Belts at the Grocery Store From the bakery aisle to the dairy case, and the meat counter to the ice cream freezer, surging inflation for groceries has brought about an unexpected reality: Americans are buying less food at the store. Shoppers have put billions fewer items in their grocery carts in the past few years compared with pre-pandemic levels, resorting instead to online purchases, bulk buying, and simply consuming less. Kroger reported same-store sales growth of just 0.5% as increased prices lead to smaller basket sizes and more consumers seeking to eliminate non-essential products. Retailers and producers are now rushing to reinvigorate sales volumes with markdowns and promotions. Read more: https://lnkd.in/dEhZ7BTv To learn how SAG helps grocery retailers increase grocery retail sales and customer loyalty >>> www.sag121.com #GroceryStore #Inflation #ConsumerBehavior #USEconomy #Kroger #FoodSales

With grocery price increases at an all time high. Consumers hit the road for cheaper deals. The rising costs of food and groceries have significant implications for consumer behavior. In summary, the current rising costs of food and groceries are reshaping consumer behavior, impacting purchasing decisions, and prompting adaptations such as increased online shopping. As prices continue to fluctuate, consumers must navigate these challenges while striving to meet their daily needs. #Consumertrends #Grocerydeals #Shoppingtrends

According to the article, #shoppers are paying $50 more for groceries per week than they were five years ago. Consequently, 66% of shoppers said they spend 30 minutes or more preparing for their regular #grocery trip. Relevantly, a Trend Watch Report from 2022 shows that while #Marketers think quality tops the list of shoppers' priorities, it's not as crucial as retailers believe; #consumers say fair prices drive them to choose a new retailer, but marketers don't rank it as the most important. Hence, there has never been a more crucial time to examine the market landscape through a Darwinian lens than now! Meanwhile, consumers are more open to everything and less attached to nothing. #retailindustry #CPGindustry #groceryindustry #ecommerce #socialmedia #marketing #strategy #socialmedia #cmos #ceos https://lnkd.in/ebmTctyV

The Australian Competition and Consumer Commission (ACCC) is urging more consumers to participate in its survey on household spending as the consumer watchdog investigates the pricing practices of supermarkets. #InsideRetail #Retail #retailnews #consumer #commission #survey #supermarket

“'Location intelligence shows that overall, visitors to grocery chains last year tended to come from areas with slightly higher median household incomes than the nationwide average,' the Placer.ai report says." Contrary to its budget-friendly reputation, Trader Joe's draws customers with the highest median income of $97,500 among major grocery store chains. Patrick Cooley features Placer.ai's "The Grocery Sector in 2023: An End-of-Year Recap" report in this recent The Messenger article. Learn more here: https://lnkd.in/dy_FvRnA #foottraffic #foottrafficanalytics