LAS VEGAS — As consumers remain under financial pressure, they are no longer hunting for a deal; they're assembling one, said Nicole Collida, managing director of US Retail & Sales Agencies at NielsenIQ (NIQ).
Speaking at Groceryshop on Sept. 22, Collida said shoppers are combining strategies, such as switching to lower-price brands (39%), shopping more often at discount or value retailers (34%), buying more private label (32%) and stocking up when preferred items are on sale (32%).
"It's a durable shift in how consumers are curating a deal," she said. "Promotion is still important, but promotion has to do things different than it's done before. It has to drive value for the consumer in the way that the consumer is defining it."
Some categories are faring better than others as food cost concerns persist. Looking ahead to next year, consumers intend to spend more money on fresh produce, about the same on fresh meat and less on instore prepared foods, according to NIQ's 2027 Consumer Outlook Study. Notably, every purchase decision will be guided by justification rather than habit.
"An important note here is that consumers aren't necessarily cutting spending," Collida said. "We ...