Accenture’s latest Holiday Shopping Survey confirms that, as expected, competitive pricing and convenient location are the biggest drivers for grocery shoppers in the holiday season and beyond.
But it also shows food shoppers are receptive to a wide range of incentives, with product range, product quality, product transparency, and healthy living solutions all relevant factors for at least three-quarters of grocery consumers.
With such a wide menu of incentives to choose from, it’s essential food retailers get to know all of their customers better: what matters to them individually – and what will encourage them to open their wallets – in each moment.
Grocers must push forward with customer data analytics initiatives, using micro-segmentation to understand what will really motivate shoppers on a hyper-localized level in each market.
As part of this, grocery retailers should also consider revamping their loyalty programs, taking inspiration from leaders who have replaced traditional points-based programs with hyper-convenient personalized digital experiences that offer new insights into consumer preferences and behavior.
Grocery consumers are choosing products based on responsibility and sustainability credentials.
Source: 2019 Accenture US Holiday Shopping Survey
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Overall, almost half (45%) of consumers also said they were more likely to do their shopping with retailers who demonstrate a responsibility to address wider social issues through their business practices and working conditions.
The responsibility agenda also extends into the realm of individual customer relationships and pricing decisions. More than half of consumers think a retailer’s responsibility for price matching guarantees increases over the holidays. And nearly as many think a retailer’s responsibility for ensuring data security also increases.
Holidays get serious – fewer parties, less indulgence
Price-sensitive shoppers are getting more focused about their food purchases this holiday season. Almost three-quarters (72%) say they’ll be spending no more than they did over the previous festive period (a rise of 8 percentage points on those who said the same last year).
What’s more, fewer consumers say they’ll be hosting parties this year, even those on higher incomes. Nearly a quarter say they won’t be hosting guests at all over the holidays.
And when it comes to the holiday spread, it’s out with the sweet treats and in with healthy holiday living. Consumers expect to spend more on fruits, plant-based foods, and organic and vegan foods, while spending less on cakes, desserts, sweet foods, and soda.
Whether this preference for healthy products withstands the temptations of the holiday season remains to be seen. But it’s a clear trend to watch out for in the year ahead.