Recessionary Impact: Fewer Shopping Trips and Less Spending Per Trip
March 31, 2010
Todd Hale, Senior Vice President, Consumer & Shopper Insights &
Dan Brady, Director, Insights Consulting, The Nielsen Company
SUMMARY: A consistent pattern of reduced shopping trips continues to be a major element of consumer’s economic coping strategies. In the latest battle for share of wallet, those retailers who satisfy consumers through differentiation will gain more of less.
The recession continues its ravaging effect on retailers. According to Nielsen, the downward trend of consumers shopping less hit a new low in February 2010, reporting a 4% year-over-year decline in monthly all-outlet shopping trips. And while per trip shopping basket rings began to pick up during and after the holidays, February remained static with a 1% increase compared to last year. Retailers’ focus on store brands and retail price cuts helped keep spending levels in check driving more value for shoppers.
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