133: Redefining Discovery for Cash-strapped Consumers
Inflation may be easing, but consumers are still paying dramatically higher prices than two years ago, and face increasing pressure resulting from the additional SNAP benefits that expired earlier this year, forthcoming student loan repayments and increasing credit card debt. Still, consumers of all household incomes are finding affordable escapes or rewards and easy entertaining ideas, courtesy of fresh foods. In this Fresh Pulse episode, Jonna Parker, principal of Circana’s Fresh Center of Excellence, and Anne-Marie Roerink, president of 210 Analytics, discuss macroeconomic pressures, why even cash-strapped consumers are making choices based on “and” not “or,” and the importance of connecting with the right shoppers with the right products.
- The pinch of inflation continues to hurt, but fresh offerings can lean in by defining their “value” to the shopper. Across household income groups, value doesn’t equal lowest price.
- Shopper trips are up but baskets are smaller than two years ago, with consumers visiting more retailers to fulfill their needs. Too many retailers and brands are focused on high-spending boomers, often without realizing the changing behaviors of this group. It’s time to look to where growth will come from.
- Along with more frequent, small trips in-store, online shopping appeals to those wanting to stick to a budget. Both work against in-store discovery, meaning marketers must work harder to showcase new delights and solutions.