Study urges brands to respond to ‘entrenched’ consumer behaviours

Study urges brands to respond to ‘entrenched’ consumer behaviours

Shoppercentric (an independent agency specialising in shopper research) has today unveiled an update to it’s recession report, which shows that consumer shopping tactics influenced by the recession are now more entrenched than ever.

Key findings:
•   Prudence – Back in January 2012 82 percent of shoppers said that they were being prudent with their purchasing. This figure rose to 87 percent in April and has now reached 90 percent;
•    Economising – January figures indicated 85 percent of shoppers were adopting this tactic. This climbed to 90 percent in April and now sits at 89 percent;
•    Avoidance – Figures for this strategy were consistent at 87 percent in January and April. This has now dropped to 84 percent suggesting that shoppers are not as focussed on avoiding particular stores or products;
•    Active shopping – The tactic of shopping around to find the best deal has lessened in its popularity throughout the year. In January figures were high – at 85 percent but this dropped to 84 percent in April and again to 81 percent now;
•    Promotions – 30 percent of 2012 shoppers look for promotions that save money rather than give them more of the same. Back in January 2009 at the start of the recession this stood at 23 percent;
•    Pricing – 32 percent of 2012 shoppers are more aware of pricing than they used to be (versus 23 percent back in 2009);
•    Wastage – 28 percent of today’s shoppers say they are more careful about avoiding waste than they used to be. This compares with 20 percent in 2009; 
•    Making things go further – 26 percent of shoppers try to get the most out of their buys versus 17 percent back in 2009;
•    Avoiding expensive/upmarket shops – 29 percent of shoppers now stay away from the shops known to be more exclusive and costly. This is a significant increase from 21 percent back in 2009. 

Danielle Pinnington, Managing Director at Shoppercentric and FMCG News columnist, says: “This latest data set shows that despite changes in tactics, shoppers are continuing to struggle to manage their household budgets.

“They are however more considered in their spending and as such adopt increasingly savvy tactics to make their money go further. The implications for retailers and brands are clear – they need to reflect the fact that shoppers are looking to get the most out of their money, and demonstrate value beyond lowest price.”

Speaking to FMCG News Danielle explained that having experienced the benefits of savvy shopping, consumers are unlikely to return to their previous habits and will continue to employ savvy tactics into the future beyond the recession.  

This study follows up from Shoppercentric’s “Shopping in the Recession” reports which have been published regularly since the start of the recession back in January 2009. Its purpose is to provide an indication of how shopper attitudes are changing – right now and in the future.

 

Holly Aston
ADMINISTRATOR
PROFILE