A survey by Deloitte found that shoppers now expect discounted prices rather than being excited by unexpected deals. Nearly a third of consumers' carts contain at least seven discounted items, and shoppers research prices in advance. Additionally, shoppers have become more efficient, knowing what brands they prefer and buying only necessary items. The report concludes that retailers must find ways to engage with customers and differentiate their brands through targeted communication.
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Deloitte & Harrison - American Pantry Survey Press Release
1. 21/11/11 Deloitte | Demand for In-Store Deals has Diminished, Shoppers Expect Discounted Prices: Deloitte …
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Demand for In-Store Deals has Diminished, Shoppers
Expect Discounted Prices: Deloitte Survey
Savvy consumers research brands and prices before heading into stores
NEW YORK, Nov. 15, 2011 — Excitement over unexpected in-store deals has diminished as discounted prices
become an anticipated part of the consumer products shopping experience, according to the Deloitte/Harrison
Group annual American Pantry Survey.
For nearly one-third (30 percent) of consumers, at least seven of 10 items in their shopping cart is discounted.
Additionally, 80 percent of them say they do their own research and have a pre-determined price point and a
potential savings amount in mind before they step into a store. Furthermore, two-thirds (66 percent) of
consumers shop when they know products will be on sale.
“Shoppers today expect to get a deal on the products they purchase,” said Pat Conroy, vice chairman, Deloitte
LLP and consumer products sector leader . “With this mindset it is critical that consumer products companies
take measures to enhance brand loyalty by connecting early and often with key audiences in environments
outside of the store.”
Smarter, efficient shoppers focus on consumer product purchases
Three-quarters (75 percent) of survey respondents assert that that they are smarter shoppers than they were a
year ago, and nearly nine in 10 (86 percent) believe they are getting more precise in what they buy. Additionally,
eight in 10 (80 percent) consumers say they have become more efficient at getting in and out of the store in
2011.
“Smarter shoppers know what they want, and how to get it for the best price,” said Conroy. “As they become
more efficient – while the consumer products industry increasingly faces a ‘crisis of similar’ – companies looking
to thrive must find ways to differentiate themselves from their competition.”
Before entering the store, shoppers know shat they’re buying
Nine in 10 shoppers know what they’re buying before they arrive at a store, and more than eight in 10 (83
percent) have a set of brands in mind that they will consider. Moreover, eight in 10 (80 percent) shoppers
indicate that the recession has caused them to realize what brands they care about and which ones they don’t.
“Companies should have a conversation with shoppers prior to the time of purchase,” said Conroy. “With the
proliferation of online shopping, smartphones and social networking, it’s vital that consumer product companies
consider the use of highly targeted pre-store shopper engagement programs, which could include constant
communication through new technology mediums.”
Private label and store brands increasingly “been there, done that” for shoppers
Nearly one-half (49 percent) of shoppers say they are no longer interested in trying private labels or store
brands. Furthermore, nine in 10 (90 percent) shoppers assert that they have already figured out which store
brands and private labels work for their families – and which ones do not – while nearly the same amount (88
percent) of consumers claim they have established which store brands and private labels are good, and which
ones are not.
About the Survey
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