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As the oldest members of Gen Z move into their mid-20s and the youngest enter their teen years, personal finance concerns are high on their list of worries. Nearly one-third ( 30% ) like physical stores’ ability to provide them with products immediately, and 28% go to stores to see, touch and try the products they’re considering.
Closed Stores Lead To Losses, But Recovery May Be Right Ahead. While off-price retailers can succeed in times of economic turmoil, the realities of operating during a pandemic are currently weighing down non-essential discountstores. TJX, which shut down both its stores and web site, reported net sales of $4.4
But consumers had other ideas, it turns out they enjoy shopping in stores more than many realized and in categories like clothing the share of online sales now are lower than before the pandemic. If you are wondering what your customers are thinking about, it’s likely their mental and physical health and their finances.
Growth of supermarket spending slowed, as consumers continued to find ways to reduce the cost of their weekly shop Produce shortages are impacting grocery shopping behaviour, with tomatoes, eggs, peppers, cucumbers and lettuce the items most difficult to source Spending on public transport jumped 22.6 percent) than in January (18.1
However, worries about inflation persist, with 90 per cent concerned that the rising cost of everyday items will negatively impact their household finances. This was driven by supermarket shopping (+14.7 Consequently, some shoppers are already seeking out value in the purchases they make, as discountstores saw a 29.3
A trend towards more frequent grocery trips with less spend per visit emerges, with two in five shopping on a need-to-buy basis to save money and avoid waste. The increase was driven largely by fuel and supermarket shopping, both of which saw year-on-year growth (29.9 Meanwhile, discountstores grew 3.1 per cent and 2.1
When you look at the retail sector it tends to be the top of the market, luxury retailers and the lower end of the market, discountstores that perform the best. Dollar General plans to open more than 1,000 stores this year and Dollar Tree plans to open as many as 650 stores this year. billion ($2.2
A discountstore for bargain hunters? This can be done with multiple goals in mind: Generating extra foot traffic to retail stores Winning market share from competitors Making consumers aware of a product Expanding brand awareness in collaboration with vendors Simply selling more units. Are you positioned as a luxury brand?
Meanwhile, over six in 10 shoppers (63 percent) are actively seeking ways to reduce their weekly shopping expenses. In contrast, discountstores enjoyed a growth of 5.0 percent, indicating that consumers are actively seeking value wherever possible. However, spending on hotels, resorts, and accommodation saw a decline of -4.9
Meanwhile, more than six in 10 (63 percent) say they are looking for ways to reduce the cost of their weekly shop. Two fifths (41 percent) of these budget-conscious Brits are using vouchers or loyalty points to get money off shopping, and over a quarter (27 percent) are buying more frozen food to minimise waste.
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