Deloitte: New shopping behavior will have lasting impact
Wednesday, July 21, 2010
shopping is down, while frugality, price-value trade-offs and the search for
value across retail channels dominate consumer behavior in the new economic
culture, according to a recently released study by NEW sponsor Deloitte and
2010 American Pantry Study: The New Rules of the Shopping Game” found American consumers
have re-learned how to shop — and in the process re-shaped the playing field
for both consumer products marketers and packaged goods retailers.
The recession has made it necessary for
Americans to rethink and adjust their shopping patterns, which has resulted in
a more strategic, informed, calculating approach to a shopping game previously
driven by impulse, advertising responsiveness and the fundamental
attractiveness of brands, the joint study found.
continue to witness consumers creating a whole new rule book and skill set for
shopping that’s based on value, not boasting of brands,” said Pat Conroy, vice
chairman and Deloitte’s consumer products practice leader in the United States.
"Our analysis concludes that personal gratification and a desire to feel smart
about what consumers are putting in their shopping carts are trumping brand
satisfaction, and that price-consciousness, value-orientation and
bargain-hunting will remain prevalent for years to come.”
90 percent of the 2,000-plus consumers surveyed in April 2010 said they have
become more resourceful shoppers in the last two years; 84 percent reported
being more precise when they shop.While the new shopping approach is
generally based on spending less, approximately two out of three respondents
said they do not feel like they are sacrificing much. In fact, 79 percent
reported feeling smarter about the way they shop versus two years ago.
purchase the study or find out more visit www.deloitte.com/us/americanpantrystudy.