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SymphonyIRI Offers a Comprehensive Look at Shopper Behaviors

According to SymphonyIRI’s inaugural MarketPulse™ survey, fewer consumers are switching brands to catch a sale and trading down to private label options. However, coupon clipping and list making are still a trend.

“An economy in transition to recovery is as tricky to navigate for CPG, retail and healthcare leaders as an economy moving into recession,” said John Freeland, president and chief executive officer, SymphonyIRI. “Some shoppers are retaining their frugal ways, others are spending more freely across the board and others still are spending more on some types of products, but remaining tight fisted about others.  They are also re-evaluating where they purchase their products and updating their definition of value.”

Consumers are spending less in their day-to-day lives:

  • 60% are eating out less often, as compared to 65% at this time last year
  • 52% try to make personal care products last longer, versus 63% in 2009
  • 49% visit hair salons less often, as opposed to 55% last year

Grocery shopping is deliberate and well thought out:

  • Two out of three shoppers today are making shopping lists prior to visiting the store, consistent with trends in 2010
  • Also unchanged during the past year, 56% are reading store fliers either before or at the store

Consumers are shifting back to their favorite brands:

  • 38% are giving up their favorite brands to save money, versus 46% in 2010
  • 64% state price has become a more important consideration than convenience in brand purchases, a decline of six points versus 2010
  • 36% are actively seeking out private label brands to save money today, versus 44% in 2010

Source: SymphonyIRI’s Inaugural MarketPulse™ Survey 2011

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