High and low-end shoppers influenced by same factors – studyby
New research has revealed shoppers on either end of the income scale are making purchasing decisions based on similar factors.
Acosta’s bi-annual The Why? Behind The Buy report surveyed over 1,000 shoppers and found shoppers with annual incomes of less than $45,000, and those with annual incomes over $100,000 are making purchasing decisions based on similar factors, including price.
According to the report, 55% of shoppers bought more items on sale than last year, whilst 88% of used BOGOF offers and 50% cut coupons.
Over two thirds of shoppers also use digital marketing to pre-plan their trip before going to the store with 36% logging onto home computers, mainly to find coupons, and 20% visiting brand and retailer websites, said the report.
The research also revealed 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.
Acosta president and CEO Robert Hill said: “Today’s purchasing and marketing trends are reflective of a continued challenging economic climate. 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.”