Price, variety, quality and convenience. Nothing has changed.
But where they shop has, as more consumers are willing to shop in more stores to find the foods they want. And the loser? That 40,000 SKU bricks & mortar store that has not evolved.
Acosta’s Hot Topic Report finds that 76% of consumers shop in more than one retailer weekly. 44% visit 2, 23% visit 3 and 9% visit more than three stores each week.
For almost two-thirds of the shoppers price is the number one reason they listed as the reason why. Quality is the second most cited reason. Probably the most important stat in the report is that there is a 3.4% decline in trips to the conventional supermarket and an increase of 1.4% to supercenters.
Hot Topic also points out that 44% of shoppers have a pain point – figuring out meals that are healthy and convenient for their families. Underscoring the rise in meal kits and prepared foods at the supermarket.
Acosta goes on to recommend that retailers can win back consumers by keeping shopping fun and aligning their space with consumer demands. They also suggest that stores can build consumer loyalty by offering “product innovation, variety and engaging digital programs.”