Jacksonville, Fla. (April 27, 2022) — Today Acosta released its latest research report, Inflation in 2022: Shopper Impacts and Actions. Kathy Risch, SVP of Shopper Insights and Thought Leadership, highlights some of the key findings in the report and how these findings impact retailers and manufacturers.
Risch shares “As inflation continues to be the top concern among U.S. shoppers, with the high cost of groceries and gas prices impacting them most, shoppers are finding it necessary to now alter some of their behaviors and buying patterns. Over half of consumers are spending less on discretionary items, and with inflation expected to continue into next year, retailers and manufacturers should focus on creating true value for the money by filling a need with a special product benefit or service, not just a luxury delight. As shoppers look to cut back on what they do not need, they will pay a higher price for special and unique solutions.”
“Our research continues to support that shoppers will look for deals, comparison shop, trade down to private label or cheaper brands, or shift to less expensive stores. So, retailers and manufacturers must ensure their price points and packaging value/size/benefit message stand up well in terms of actual price and value at the shelf.”
“Our shopper data supports a high emotional concern for themselves and their families (that is currently higher than COVID), and that may last into 2023 and beyond. So, products, services, and communications should be positive, uplifting, and supportive since 41% of households are worse off financially now than they were before the COVID-19 pandemic.”
Acosta’s Inflation in 2022: Shopper Impacts and Actions report was gathered via online surveys using the company’s proprietary Shopper Community, conducted in March 2022.