retail news in context, analysis with attitude

Acosta is out with a new study saying that “76 percent of weekly shoppers visit more than one retailer each week for groceries” and that “67 percent of those shoppers are visiting approximately two to three retailers weekly.”

Some other statistics from the Acosta study:

• “Sixty percent of shoppers reported shopping at more than one retailer because ‘some products are priced lower at certain retailers’.”

• “Only 45 percent of Millennials cite price as a key driver of retail hopping – this generation is more prone than the average shopper to vary their shopping based on where they are and specific brands.”

• “More shoppers are choosing at which store to shop based on how much they like the store brand (53 percent of shoppers versus only 34 percent in 2011).”

• “Thirty-seven percent of shoppers make multiple trips weekly to ensure their food is fresh.”

• “Thirty-three percent of shoppers go to more than one retailer due to not finding all the products/brands they want at one store.”

• “Forty-one percent of shoppers reported shopping at more than one retailer because ‘some retailers carry better quality products in certain categories’.”

• “Thirty-seven percent of shoppers report they don't have time to figure out what to have for dinner, saying it's typically a last-minute decision.”
KC's View:
The big lesson, I think, is that pretty much every customer is in play … and any retailer, with the right, compelling, competitive offer, can create a niche that will bring in new shoppers and establish customer relationships.