EP 613 | AIRED 10/31/2022
Prices Top-of-Mind for Consumers This Holiday Season
Oct 31st, 2022 - Prices will be top-of-mind for holiday grocery shoppers according to Chicory's 2022 Holiday Grocery Shopping Report - BUT this does NOT necessarily translate to lower sales.
Shoppers have been watching their dollars as they ready for more and bigger purchases in the approaching holiday retail sales season.
According to Matthew Shay (President and CEO of The National Retail Federation), “shoppers are increasingly seeking deals and discounts to make their dollars stretch”.
In the Chicory report, survey respondents that cited price as top-of-mind during holiday grocery purchases, also cited flavor and availability top-of-mind after price - forming the classic decision-making trifecta.
Brand names and familiarity was next top-of-mind.
Brands looking to win the basket need to make themselves easily accessible to today’s consumer, as well as position themselves as the most flavorful, high-quality option in their price bracket.
Survey respondents also said they plan to complete their holiday grocery shopping across multiple trips or purchases, and plan on using multiple retailers to complete their holiday shopping.
This behavior extends the meal-planning timeline for many shoppers, allowing brands additional opportunities to win the basket.
This behavior also suggests that shoppers are willing to search for the best deal or product before committing to a purchase.October is National Seafood Month!
Our recommendation is to work with a supplier (like Tradex Foods) that can provide the full range of value and premium seafood options for the upcoming holiday season, and can also provide the logistical expertise to ensure delivery.
Let's celebrate by raising the profile for seafood through purchasing more sustainable seafood, educating on all the natural health benefits of seafood, and recognizing that seafood is one of the last wild caught foods on earth.
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