Wednesday, April 26, 2023

Service Tops Price in Influencing Food Spend Look at the Demographics

What drives consumers to stop and buy something from one of your locations? What do consumers think is important when they are about and about? Steven Johnson Grocerant Guru® at Tacoma, WA based Foodservice Solutions® stated, its not always about you or your brand.  More often than not it is about your consumer. Below are some valuable insights from Numerator we think you should see.    

Numerator continues to track purchase data and survey verified buyers to understand shifts in consumer behavior. In a recent Mythbusters: Convenience report, we examine the fact that convenience is not a universal metric–what convenience means to consumers differs based on product type and shopping method, as well as between shopper groups, particularly different generations. Here’s what we learned: 

1.       82% of shoppers say convenience is extremely or very important to them; for Millennials, this number rises to 87%, while for Boomers+, it is only 77%

2.       When ranked alongside other shopping considerations, convenience comes in third, behind price and quality. 40% of shoppers rank convenience as their first or second decision-making factor.

3.       1 in 5 shoppers say store location is the most important factor for convenience, with an additional half saying it plays a role. 

4.       78% of all consumers consider the most convenient store location to be the one that is closest to home, followed by one along a route they travel regularly (54%). 

5.       Gen Z consumers prefer having a store within walking distance (25%) and along a public transportation route (13%). This is because Gen Z shoppers are 20% more likely to live in urban settings and 45% less likely to own a vehicle.

6.       Gen Z shoppers are 30% more likely than other generations to consider self-checkout a key component of convenience. 

7.       Store location is the top in-store convenience factor, but for online shopping, the #1 convenience factor is the ability to shop at any time.

8.       44% of Gen Z consumers prefer online stores that make it easy to use promotions/coupons, 28% of Millennials like the ability to store payment info, and 20% of Boomers+ find customer service the most convenient aspect of online shopping. 

9.       43% of all shoppers find online shopping somewhat or much more convenient than in-store, and Millennials are the most likely generation to favor online shopping (48%), followed by Gen X (46%). Gen Z finds in-store shopping “somewhat” to “much more” convenient (32%) than other generations.

10.   Consumers find it more convenient to shop in-store for perishable food and beverages (77%), frozen or refrigerated food and beverages (74%), and large home goods or furniture (55%). Meanwhile, consumers find it convenient to shop online for pet food and supplies (31%), small appliances or electronics (29%), and baby and toddler items (24%).  

For international corporate presentations, regional chain presentations, educational forums, or keynotes contact: Steven Johnson Grocerant Guru® at Tacoma, WA based Foodservice Solutions.  His extensive experience as a multi-unit restaurant operator, consultant, brand / product positioning expert, and public speaking will leave success clues for all. For more information visit, FoodserviceSolutions.US or call 1-253-759-7869 

No comments:

Post a Comment