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Study: Americans Look To Spend Less On Food

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As the recession continues to wear on consumers, a new study shows that Americans are determined to spend even less at the grocery store. Not only do 74% now shop armed with a list, but 65% think grocery items are overpriced, and 49% find the experience so unpleasant they just want to "get in and get out." In fact, the Synovate survey finds, 48% would gladly shop online, if they thought online grocery shopping was both secure and that they would get high-quality food.

Americans are fiercely focused on price, says Synovate, a Chicago-based market research firm, which polled 6,700 people in 10 markets around the world. Some 39% of shoppers in the U.S. say they are spending less than they did 12 months ago, and 78% would happily switch one food brand for another if it were a better deal.

"It's maybe only once or twice a decade -- if that -- when events occur that make the consumer rethink everything they do related to virtually all of the money they spend," the company says in its release. "Of course, this means they are rethinking or considering all the products they buy or don't buy. This runs the full gamut from big decisions like cars and TVs, all the way through to frozen food, water or coffee."

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Interestingly, despite their concern about prices, 89% say they are most likely to shop at supermarkets, and only 10% of Americans say they do their grocery shopping at superstores, which typically offer lower prices. Some 57% of Americans still do a big weekly shopping trip, and 58% buy in bulk.

The survey also asked about changes shoppers would like to see in stores, and found that once again, Americans care more about cash than other amenities. While 62% of the total surveyed say they would go out of their way to shop at an environmentally friendly supermarket, Americans -- at 22% -- are among the least interested. (About 86% of Russian respondents, 85% of Malaysians and 18% of the Dutch agreed.) Americans also turned thumbs-down on ideas like al fresco shopping, playgrounds, and community gathering spots in stores, although 72% agreed it would be a good idea for stores to include recycling facilities.

The news comes as many supermarket stocks are taking a bruising on Wall Street, as investors anticipate that the earnings reports due in the next few weeks will reflect the tight-fistedness of U.S. consumers.

1 comment about "Study: Americans Look To Spend Less On Food ".
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  1. Kevin Horne from Verizon, October 15, 2009 at 11:02 a.m.

    Nice data to prime manufacturers to reconsider ecommerce (by-pass groceries and ship direct to consumer)? Maybe P&G had an early read on this info before launching theEssentials.com last fall.

    Why not a yearly schedule each consumer tailors? Ship me a can of Folgers every 2 weeks, a box of brownie mix once a month, etc etc...Bill me upfront, give me a 20% discount off retail price, and put the rest in the bank. win-win (plus loss for grocery retailer)

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