INFLATION IS THE NEWEST NORMAL. HOW SHOPPERS ARE ADAPTING

Spencer Baird, Interim CEO | June 14, 2022

INFLATION IS THE NEWEST NORMAL. HOW SHOPPERS ARE ADAPTING

Record-high inflation continues to be a concern for shoppers, with the latest CPI reporting 8.3 percent in April — which is only a slight decrease from March’s 8.5 percent, and still indicative of significant price increases compared to last year. Moreover, if you dig even deeper into the CPI and look at the food-at-home category alone, you’ll find that it’s even higher at 10.8 percent.

Shoppers are definitely seeing higher prices

Shoppers are increasingly noticing higher prices when shopping. We recently fielded a survey to better understand the impact on shoppers from inflation and found that 13 percent more shoppers have noticed price increases recently compared to December 2021. 

To combat rising prices, customers are changing their shopping habits

Shoppers don’t see inflation returning to normal, with 30 percent doubtful that it will return to normal in the next year and another 19 percent who don’t feel we’re heading in the right direction to alleviate inflation. The result? We’ll see shoppers making long-term changes in their purchasing habits.

You have a chance to win shopper loyalty with the right incentives

Whether you’re finalizing those adjusted Back-To-School activations or planning for fall and holiday, now is the time to ensure you’ve maximized the savings you can deliver to shoppers — so you can win, and keep, their loyalty in this season of inflation.

Want more details on how shoppers are adapting their purchase behavior to long-term inflation? We’ve compiled these insights in our “Shopper Behavior in the Face of Inflation” resource. 

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