In this file:
· Foot traffic slows at grocery stores as inflation takes hold, report says
· Study: Consumers prefer shopping in-store
· Inflation pain: 19% of Americans say they’re cutting back on their grocery spending
Foot traffic slows at grocery stores as inflation takes hold, report says
Sam Silverstein, GroceryDive
May 5, 2022
o Overall visits to grocery stores declined in February compared with the same month in 2019, ending a 10-month streak during which supermarkets saw rising foot traffic by that measure, according to data from Placer.ai.
o Foot traffic during the first three weeks of April was roughly equivalent to levels seen during that stretch of 2019, suggesting the decline may already have stabilized, Placer reported.
o Visits to supermarkets have slowed as rising inflation drives up the cost of gasoline, making it more costly for many shoppers to travel to stores.
While the slowdown in foot traffic at grocery stores earlier this year is a potentially ominous sign for food retailers, the fact that visits appear to have stopped going down suggests consumers may be getting used to the rising costs they are seeing on store shelves and gas pumps, according to the Placer report.
Meanwhile, discount grocery chains appear to be especially well positioned as inflation dents people’s buying power...
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Study: Consumers prefer shopping in-store
Marianne Wilson, Chain Store Age
More than half of all U.S. consumers would rather shop in-store than by any other method.
That’s according to new research from customer engagement specialist Emarsys, which found that 54% of consumers prefer bricks-and-mortar retail to any other channel, with more than twice as many preferring it to shopping via a mobile phone (21%) or via laptops/computers (18%).
However, huge value remains in digital channels. Two in five (39%) consumers “couldn’t live without online shopping.” And younger audiences push the boundaries further: Thirty percent have made purchases on TikTok, while one in 10 use a smart speaker.
Time spent across all channels is fleeting, according to the study. With consumers shopping for an average of two hours per week, retailers need to reach customers where they want to shop — be that in store or elsewhere, advised Emarsys.
The study noted the changes in consumer preferences across different industries:
· In food, for example, despite the rise of online groceries, consumers are still four times more likely to prefer buy in-person (38%) than online (9%) ...
Inflation pain: 19% of Americans say they’re cutting back on their grocery spending
By Charles Passy, MarketWatch
May 4, 2022
A new survey from the American Consumer Credit Counseling organization shows the significant impact that inflation is having on our financial lives
With inflation now at levels not seen in decades, Americans are cutting back on everything from gas to groceries, according to a new survey from the American Consumer Credit Counseling (ACCC) organization.
The Financial Health Index survey, released Tuesday by the Boston-based non-profit group, found that 31% of people polled said they had reduced spending on fuel and transportation, while 19% said they had cut back on grocery shopping.
Another area of concern is vacation spending: 24% said they were postponing any travel and another 26% said they were modifying travel plans to reduce costs.
And so much for a night at the movies: 33% said they were trimming their entertainment budget.
On a broader level, 93% of survey respondents said that rising costs have impacted their family’s lifestyle. And 55% said they were “not so confident” or “not at all confident” in the U.S. economy...