According to a survey of U.S. consumers commissioned by NCR Corporation, unprecedented price wars and product promotions by retailers may be saving consumers money, but also costing them more in terms of personal time.
The research reveals that bargain conscious American consumers are spending more time evaluating less familiar brands, switching among stores to capitalize on deals, and also scheduling their shopping trips to coincide with the arrival of paychecks.
Please note that this survey does not specifically address food, but shopping in general!
Some highlights:
- 80 percent said that they are buying discount or sale items
- 63 percent are trading down to ‘own or store brand’ or generic products rather than ‘branded goods’.
- Almost half, 49 percent, are switching between retailers, ‘shop hopping’, to get better value
- 44 percent are preparing meals for special occasions, rather than eating out.
- 43 percent are buying ingredients from scratch, rather than ready meals.
- 33 percent believe the tendency of other people to spend more time shopping is making stores busier.
