If you’re planning this year’s or next year’s POP campaign, you’ll be interested to know about new trends in consumer’s buying habits. Boutique stores, chain stores, and larger box stores are constantly battling for marketshare and walletshare and that continues in 2012.
So what noticeable consumer shopping trends are materializing in 2012?
According to the POPAI CPG 2011 Year in Review Times and Trends Report by Symphony IRI, there are some notable trends in new product development, technology, store layouts, and consumer shopping habits and we’ve got some details on their findings.
• Shoppers will continue to be price sensitive with half of shoppers choosing stores based on price alone
• Half of shoppers will shop multiple stores to find the items at the price they want
• Stores will continue to evolve as Walgreens and Walmart have in introducing food sections to their stores
• Retailers must create a reputation for overall value
• Club stores are expected to increase their sales and new customers
• Manufacturers and retailers will pass on food commodity prices to consumers
• Private label products will keep their marketshare and retailers will increase assortments and continue with tiered product strategies
• Manufacturers will innovate as the primary private label mitigation strategy
• Consumers are still shopping conservatively yet there are opportunities with those consumers looking for new ways to live well
• The drug channel continues to do well with weight control, nutrition liquids/powders and energy drinks selling well
Although retail sales grew by 8.1% in 2011, shoppers are expected to remain frugal and conservative in 2012. The report stated that 27% of consumers expect their financial condition will improve in 2012.
Although no retailer or manufacturer wants to compete on price, consumers want the impression they’re getting the best value for their shopping dollar. Your POP displays may have to contend with price consciousness for 2012 and beyond. Trying new POP retail campaigns that involve product resizing strategies are a great way to stimulate sales and learn more about your target consumer market shopping at Walmart, Shoppers Drug Mart, Costco, Canadian Tire, and other top Canadian retailers.
Do you use shopper marketing research when planning your POP display campaigns? Tell us what research resources provide the best insight.
Photo Credit: antwerpenR