By: Laura Judy, Manager, Web & Digital Communications, FMI
As a person who's been running a household for years, I know a lot about stretching a dollar. My family has changed and evolved over the past 20 years. I've gone from kids racing through the house, grabbing snacks on the go, to preparing huge holiday feasts, and now, I'm an empty nester cooking for one. It wasn't easy shifting from those big grocery hauls — catering to everyone's tastes and allergies — to now focusing on healthy, low-calorie meals just for myself. In recent years, I've had to get even smarter about stretching every dollar while saving time and money along the way.
But here's the good news: most people manage to keep their grocery finances in check. In fact, according to U.S. Grocery Shopper Trends: Return to Routine, 83% of shoppers feel they have some level of control over their grocery spending, with 40% saying they feel very much in control.
How to Help Shoppers Find Value
Shoppers are focusing on value, not just price. Today's definition of value includes quality, experience, relevance and convenience with shoppers weighing each of these, along with price, based on their daily and even weekly needs. They're looking to get the most for their money and use various strategies to meet their needs, including:
- Private Brands: These products are an attractive option because they offer the same quality as name brands but at a much lower cost.
- Family Packs: Customers also benefit from buying in bulk, like large family packs of chicken or fish, which save them money per pound. They can freeze what they don't need right away, cutting both time and costs.
- Meal Planning: Shoppers plan their meals ahead of time. Arranging food items to complement each other is a smart strategy that encourages additional purchases if shoppers realize they've missed an essential ingredient.
- Shopping Around: Shoppers visit different stores to find the best products for their definition of value. Each shopper has their personal mix of stores that excel at fresh produce, stores that offer great deals on bulk items or pantry staples and more. This variety gives consumers more control over the quality and price of their groceries.
Return to Routine
Finding ways to manage the weekly grocery budget becomes even more important — especially as we get back into the swing of daily life and thoughtful meal planning. Food retailers and suppliers must keep shoppers' cost-saving strategies and the evolving definition of value in mind so they can be seen as a resource for helping shoppers meet their household's unique food shopping needs.
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