Wednesday July 14, 2010

Consumers Embrace Thrift

New York — Some 92 percent of consumers have changed their grocery shopping behavior during the past two years, with 89 percent saying they’re more resourceful and 84 percent becoming more precise, according to a survey.

Researchers Deloitte LLP and The Harrison Group, Inc., in a survey of 2,077 household shoppers, find though consumers are spending less, 65 percent say they’re not sacrificing much. Instead, 79 percent report feeling smarter about their shopping habits than they did two years prior.

Loyalty cards and coupons have become increasingly important, according to the survey, which finds 84 percent of participants have at least one loyalty card and 67 percent have increased coupon usage. Further, 44 percent of those surveyed say they use loyalty cards every time they shop.

The researchers have grouped shoppers into four categories: Those who manage spending though extensive coupon use; those who make comparison purchases based on shelf price; consumers who plan meals, buy in bulk and set spending limits; and those loyal to brands who save by taking advantage of in-store discounts.

The majority in these shopper groups are expected to continue these habits, having gained emotional and practical rewards from the behavior shift, the researchers claim.