Holiday shoppers stiffen their wallets amidst financial concerns | WARC | The Feed

Holiday shoppers stiffen their wallets amidst financial concerns

Consumers are shopping this holiday with cost savings at the forefront of their minds, according to research from Kroger Precision Marketing, which shows where consumers are planning to stretch their dollars to get into the holiday spirit versus where they are cutting back.

Why it matters

As inflation and financial concerns rise, and shoppers across income groups cut back on impulse purchases, buy items on sale versus full price and switch to less expensive items, brands need to demonstrate their support of budgetary challenges to diminish shopper stress.

Holiday grocery shopping 

• Price (55%), quality (39%), quantity or size (34%), convenience (26%) and then brand (17%) were the top product attributes that have increased in importance during holiday grocery shopping versus normal grocery shopping.
• On the other hand, 31% of shoppers claim they make the same considerations as usual when holiday shopping, so attribute importance doesn’t change.
• Four percent of shoppers have completed their holiday grocery shopping as of November 4, but 60% have not yet started holiday grocery shopping.

Getting into the holiday season

• For marketers looking to drive retention and protect against trade down this season, consider more personalized offers to loyal brand buyers.
• Thirty-five percent of consumers are planning to eat more healthily, so marketers should consider messaging that communicates these benefits where applicable.