By: Haley Pierce, Manager, FMI Foundation
Concern with food prices from 2023 to 2024 remains stable, according to the 2024 U.S. Grocery Shopper Trends: Return to Routine report — but there's no denying that consumers are looking to optimize value, aisle by aisle, product by product. Shoppers are cutting back on certain areas of their budgets, paring back on discretionary purchases and nice-to-haves. Despite these purchasing habit changes, there are still ways to enhance customers' shopping experiences while contending with their budget concerns.
Here are some tips for retailers' virtual and in-store experiences:
- Retailer Tip #1: Suggest private brands or private label items for cost-conscious consumers to help make the budgeting process easier for them to find lower cost product substitutions.
- Retailer Tip #2: Don't forget about the most digitally savvy among us. There are a lot of couponers and those looking for the best sign-up and loyalty incentives. Cater to this savvy shopper and assess shelf life against selling metrics. Is there something that would incentivize sales?
- Retailer Tip #3: The in-store experience is king. The king's advisor? Omnichannel experiences. There's a lot of beauty to a well-stocked grocery store. Be sure you're optimizing shoppers' in-store and digital experiences by creative in-store displays with QR codes or hashtags, linking back to food safety, nutrition or notable features of products. You can even get them involved with your brand on social media, which tends to increase consumer trust and can often lead to long-term consumer loyalty (and savings)!
- Retailer Tip #4: Get social. Used correctly, social media can reap major rewards to your most loyal customers. Consider adding a digital-only coupon and monitor the redemption of this. A/B testing against your typical printed mailer can be an impactful way to assess digital-only engagement.
- Retailer Tip #5: Think about partnering with meal planning apps and websites. These apps often recommend ingredients and brands consumers may like in their recipes. Try partnering with one of these popular apps and assess your ROI.
- Retailer Tip #6: A key way of directly reaching food-safety-concerned consumers is through the very popular FoodKeeper app. The FoodKeeper app clarifies common storage and food safety questions from consumers, helping to maintain freshness of perishables and reduce spoilage — an immense help to today's eco-friendly consumers. Reach out to FMI Foundation to learn more about updating product records.
- Pop Out aside: Did you know that the FMI, the USDA, and Cornell University are long-standing partners for the FoodKeeper app, an app that encourages productive use of food by compiling food safety and storage tips for consumers to utilize?
- Retailer Tip #7: Lead by example: share a family meal with someone you wouldn't ordinarily. Sharing the table with someone unexpected can shake up your family meals routines. It can catalyze conversations and open up new ideas for recipes, cuisine or dining formats, which makes your typical family meals experience even better. And adding more to your table will even reduce food waste, ensuring food is put to productive use.
Keen to use these tips for #FamilyMealsMonth or the #FamilyMealsMovement? Tag us on LinkedIn or Instagram and share which tip you're bringing back to your business.
