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TrendSights: Bargain Hunting

  • May 2014
  • 78 pages
  • GlobalData
Report ID: 3351134

Summary

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Summary
Bargain Hunting explores the new consumer frugality that continues to shape the global grocery landscape. While the desire to be more resourceful with spending is well established, the concept of "bargain hunting" has evolved as digital technologies, increased competition, and shifting consumer priorities change not only how consumers seek value, but also how they define it.


Synopsis
- Identify 40 different strategies that consumers adopt in order to save money at each stage of the grocery shopping path to purchase.

- Access a unique blend of consumer and innovation insight to understand how product and marketing innovations can more effectively convey value.

- Benefit from sector-specific analysis that illustrates how consumers seek value in each of the major FMCG sectors.

Reasons To Buy
- What is the Bargain Hunting sub-trend? What is driving - and inhibiting - the desire to save money?

- Do bargain hunting strategies differ by sector? How important is price and value in each of the major FMCG sectors?

- What role does packaging play in conveying value for money?

Key Highlights
Consumers are taking a more proactive role in ensuring that they keep to their grocery budgets. Over half of consumers are routinely tracking their grocery spend, illustrating their increased savviness as shoppers. Such an approach is facilitated by digital technologies that allow consumers to more efficiently monitor their spending.

The vast majority (89%) of consumers believe that one drawback of "organic" grocery products is that they are too expensive. The typically higher cost of sustainability-aligned offerings is a major deterrent for many consumers. Accordingly, "green" products are often among the first items to be sacrificed when trying to save on groceries.

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