LOS ANGELES — As they head into the holiday season, consumers are weighing their buying decisions very carefully, one researcher told SN.
They're taking more variables into consideration when buying groceries and perishables, said Peter Rose, vice president, global accounts, The Futures Co., formerly an arm of research consultancy Yankelovich.
Rose said Yankelovich's most recent Dollars & Consumer Sense report shows that consumers are incorporating increasing responsibility and thoughts about consequences when they buy anything these days and he said that will certainly be reflected in their holiday food shopping.
“This doesn't mean an end to indulgence, nor does it mean an era of frugality as the norm going forward, but it does mean a change,” Rose told SN.
“With respect to groceries/perishables, it's certainly going to be taste and quality first, but price, environmental impact, locally grown/food miles traveled, even the corporate social responsibility of the provider of the food” will be given consideration, he said.
Researchers asked consumer-respondents questions about buying treats, delaying purchases on some food products until those products are on sale, cutting back on entertainment spending and the quality levels they seek.
In their analysis, researchers concluded that the “trading up” behavior that had become common for several years has been replaced by “trading off.”
“Sometimes that means trading down [within a category], but at other times, it might mean splurging in another category but doing so responsibly by trading off or down in other categories,” Rose said.
“For instance, a few years ago we'd have bought the burrata and the heirloom tomatoes and the bottle of champagne,” he said. “Perhaps today we'll still get the burrata, but decide that we can make do with the hothouse tomatoes and maybe a nice Prosecco.”
Yankelovich researchers also concluded that among the variables consumers are considering, “locally grown” is becoming a big factor.
“With respect to ‘locally grown,’ this is most certainly a part of the equation going forward,” Rose said.
“Today, 36% of Americans say that buying ‘locally grown’ is not only important to them, but is something for which they're willing to pay at least a little more,” he added. “This is up from 30% just two years ago, so that's a big mover on that particular question. Now, it's also interesting to note that the percentage for whom locally grown is important — but who are not willing to pay more for it — also has risen during that same time frame from 41% to 47%.