Shoppers Are Looking for Deals and Value

While the rate of inflation is easing, consumers are still concerned about the high price of groceries. These concerns are impacting their shopping behavior. To get the most for their money, shoppers are on the lookout for the best deals and seeking products that provide enhanced value.

Source: Food Republic

To remain competitive, grocery retailers and brands must adapt to these evolving consumer behaviors and preferences.

According to a recent report by data and analytics firm 84.51° titled “Adapting with resilience: The new customer paradigm,” 53% of consumers, still worried about grocery prices, are responding by switching to a lower-cost brand. 

Shoppers are not only looking for lower priced products but are also placing greater emphasis on product features that provide added value such as convenience and sustainability.

When it comes to convenience, consumers want a hassle-free experience as they cook meals at home. They value products that feature easy prep and cleanup and easy-to-open packaging.

Insights from the Food Industry Association (FMI), Oliver Wyman, and Circana highlighted new opportunities for food industry trading partners to cater to shoppers’ expanding definitions of value. Commenting on these insights, Mark Baum – senior vice president of industry relations and chief collaboration officer – FMI said, “the research showcases how food and beverages that promote well-being, those that are competitively priced and products that are decidedly convenient to buy and prepare, will ultimately earn shoppers’ allegiance.”

Consumer perception of value also extends to brands and products that align with their beliefs and attitudes. This is especially true of sustainability. Sustainable products and packaging are considered a value-add for a growing number of eco-conscious consumers who are intentionally looking for more environmentally friendly products and packaging on store shelves.

To deliver enhanced value to consumers, retailers and brands must look at ways to make their products more convenient and sustainable.

Made of recyclable aluminum, the EEASY Lid is a sustainable packaging innovation that delivers on the consumer imperative for more eco-friendly products. The EEASY Lid also makes opening jarred products up to 50% easier, eliminating the struggle of accessing these products and cutting down on meal prep time.

In an environment where consumers evaluate products not only on price but on convenience and sustainability, grocery retailers and brands must deliver on all these criteria to remain competitive.

Contact us to today to learn more about how the EEASY Lid can enhance the value of your product in the eyes of consumers.

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