Shoppers More Cost-Conscious Than Year Ago, Study Says
A new study released last week by MarketTools, Inc. revealed that shoppers are more cost-conscious than they were a year ago, and their search for value is changing the way they approach the shopping experience.
According to the study, 63 percent of shoppers have changed their shopping habits to stretch their grocery budgets. To save money on grocery bills, respondents report that they buy items with coupons (80 percent); buy store brands instead of name brands (62 percent); use store loyalty cards that offer discounts (62 percent); buy items only when they are on sale (58 percent); and buy more large-sized products (43 percent).
In the search for bargains, shoppers report that the reason they purchase store brands is to get better value (59 percent of respondents) and a more attractive price (56 percent).
Additionally, 67 percent of respondents say they use coupons for at least half of their shopping trips, and 49 percent say they use coupons on every, or nearly every, shopping trip. However, many shoppers don’t see coupons as an incentive to try something new: nearly half of respondents (49 percent) say that a coupon would not prompt them to buy an item they don't normally buy.