A new report from SymphonyIRI indicates that consumers continue to worry about the economy and their personal financial situations and – hoping to find the best value for their money – are making more food and beverage purchases at dollar and club stores.
Titled “Channel Migration: Charting a Course on the Voyage for Value,” the report analyzed consumers’ conservative spending habits and how they have affected shifting dynamics within the consumer packaged goods (CPG) marketplace. The report also examines risks and opportunities for CPG manufacturers and retailers.
“Even though the recession has long since softened, the economy is far from stable, so consumers are holding onto the frugal behaviors they adopted earlier in the downturn,” said Susan Viamari, the editor of Times & Trends, SymphonyIRI. “Shoppers’ ongoing quest for low-cost CPG solutions is evidenced in share gains by supercenter and dollar store channels, which are both successfully acquiring shoppers from across competing retail channels.
Here are some key takeaways from the report:
Have news? Have a new product? Tell us