Marketing to Moms: Study Finds It’s Not Cool To Spend Capriciously
August 6, 2010 § Leave a comment
Are you a coupon clipper, a store brand lover, a planner or a savings spectator? Whatever your shopping style, it seems that 93% of consumers remain cautious about the economy and their spending habits. And here is a statistic that I hear anecdotally all the time – 55% of those cutting back have suffered no decline in income – it’s just not cool to spend money capriciously anymore.
Bottom line: Moms are not feeling confident about the economy and they have adopted a new shopping mindset that says that saving is smart, not sacrificial. And 92% of people have changed their grocery shopping behavior in the last two years in response to this new mindset. In fact, there is an increasing preference for shopping only for sale items with nearly half (48 percent) putting off a purchase of a product they wanted because it was not on sale.
In a newly released study, Dr. Jim Taylor, Harrison Group’s vice chairman and director of syndicated research found that “consumers are using more discount strategies, such as coupons and store incentives, and are consulting with their family about which brands really matter to the family’s sense of well-being and where family members will trade price for brands. It’s not disloyalty to brands, per se; it’s loyalty to family need. As a result, people are shopping more stores, looking more carefully at the ingredients, cooking more from scratch and substituting store brands. Family gratification has replaced product satisfaction as the ‘go-to’ goal for America’s shoppers.”
The 2010 American Pantry Study: The New Rules of the Shopping Game, a joint study by Deloitte and Harrison Group, found there are four basic types of shoppers:
- Super Savers look to reduce their grocery bill by hunting for and taking pleasure in savvy price management through extensive coupon collection
- Sacrificers are shelf tag experts, selecting products on the basis of unit price, shopping more store brands and eliminating convenience shopping
- Planners are the pantry managers using their time to plan out meals, shop for bulk pack discounts and set fixed spending limits
- Spectators are the most loyal to national brands and were the least impacted by the recession, but still strive to be resourceful by taking advantage of in-store discounts
According to the study, three of these shopper segments — Super Savers, Planners and Spectators — accounting for about 80 percent of shoppers, have little intention of returning to their old shopping ways.
Not only are we shopping more carefully but we are rediscovering the family dinner table. So guys, load up on the mac and cheese!