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Deloitte: New shopping behavior will have lasting impact

Wednesday, July 21, 2010  
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Impulse 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 Harrison Group.

"The 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.

"We 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.”

Nearly 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.

To purchase the study or find out more visit www.deloitte.com/us/americanpantrystudy.


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