SAN FRANCISCO, April 12, 2012 /PRNewswire/ -- A new study released today by MarketTools, Inc., the leader in software and services for market research and customer feedback, revealed that shoppers are more cost-conscious than they were a year ago, and their search for value is changing the way they approach the shopping experience. According to the study, 63 percent of shoppers have changed their shopping habits to stretch their grocery budgets. To save money on grocery bills, respondents report that they buy items with coupons (80 percent); buy store brands instead of name brands (62 percent); use store loyalty cards that offer discounts (62 percent); buy items only when they are on sale (58 percent); and buy more large-sized products (43 percent).
In the search for bargains, shoppers report that the reason they purchase store brands is to get better value (59 percent of respondents) and a more attractive price (56 percent). Additionally, 67 percent of respondents say they use coupons for at least half of their shopping trips, and 49 percent say they use coupons on every, or nearly every, shopping trip. However, many shoppers don't see coupons as an incentive to try something new: nearly half of respondents (49 percent) say that a coupon would not prompt them to buy an item they don't normally buy.
"Both retailers and manufacturers are coming to us in increasing numbers for help in understanding the purchase decision processes of these value-driven consumers," said Ivan Rocabado, senior vice president at MarketTools. "Our Shopper Research solutions deliver actionable insight into the factors that go into shoppers' conscious and subconscious decision-making processes, insights that give marketers strategies to maximize a product's value to the consumer, and ultimately win the sale."
Additional highlights from the MarketTools study include:
- Coupon use is most prevalent in higher-income households: of respondents with annual household incomes of $75,000 or more, 98 percent report that they use coupons to save money on grocery bills, with 49 percent saying that they use coupons on every, or nearly every, shopping trip.
- In contrast, only 38 percent of respondents with annual household incomes less than $25,000 report using coupons on every, or nearly every, shopping trip.
- Coupon use also cuts across gender: 62 percent of men and 71 percent of women responding to the survey report using coupons for at least half of their shopping trips.
- A large number of shoppers still rely on old-fashioned paper coupons, clipping them from newspapers or newspaper coupon inserts (72 percent), receiving them in the mail (60 percent), and getting them from store circulars (52 percent).
- In contrast, fewer shoppers get their coupons from electronic or online sources such as email (37 percent); coupon websites (36 percent), manufacturers' websites (22 percent), and via Facebook (10 percent).
- Despite the buzz around daily deal sites, only 36 percent of respondents subscribe to a deal site such as Groupon or LivingSocial.
- 70 percent of daily deal shoppers have made one or more purchases from a daily deal site in the last six months. Most of those purchases were for discounts on dining out (20 percent), services (18 percent), and activities and entertainment (18 percent); grocery items made up only 13 percent of daily deal purchases.
About the Study
MarketTools conducted the study in February 2012, using its Survey Manager online survey solution to survey American adults, age 21 and older, who report shopping for at least half of their household's groceries. Completed surveys numbered 893 nationally representative responses. For complete survey results, please contact Greg Marek at [email protected] or (415) 957-2259.
About MarketTools Custom Market Research Software and Services
MarketTools custom market research solutions give leading brands in consumer goods, technology, pharmaceuticals, and other industries the insights they need to make the best business decisions. Through the use of advanced respondent engagement techniques, comprehensive analytic tools, and expert knowledge of marketing research methodologies, MarketTools helps clients innovate, optimize and execute programs that deliver high-value business impact. MarketTools custom market research services are supported by a groundbreaking Advanced Analytics team and a suite of market research software.
MarketTools is the leading provider of software and services for market research and customer feedback. The company is focused on providing leading organizations the actionable customer insights they need to make better business decisions that lead to high-value business impact. As the first company to make online surveys widely available on the Web, MarketTools continues its market-leading position by providing the broadest range of powerful, accurate and integrated customer insight technologies that empower companies to become the most customer-centric organizations in their industries. MarketTools is a privately held company with corporate headquarters in San Francisco and European headquarters in London. For more information, please visit www.markettools.com.
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