How confident are your shoppers?
Do you know how your shoppers feel right now? Are you building your category plans on the most up-to-date information? Michael gives a flavour of the latest confidence levels and attitudes, based on our May Shopper Confidence index.
Shopper confidence remains at one of the lowest levels recorded
The shopper confidence score for May stands at -10; this is one of the lowest levels recorded. However, the score has remained steady for the first time since January 2020.
Several factors may be holding back further declines for now. For example, the recent warm weather, relaxation of some lockdown measures and a fall in inflation.
The economic impact of Coronavirus (COVID-19) is likely to have a major effect on your shoppers’ future confidence. You can expect to see a greater focus on savvy shopping, with value becoming more important. Can you provide value to your shoppers to help reassure them?
Shoppers are worried about their household financial position
Just under half expect to be worse off in the year ahead, compared to 50% in April and 25% in January. Around a third (35%) expect no change and a small percentage (11%) expect to be better off in the year ahead.
Source: IGD Shopper Confidence Index May 2020
Which region has the most confident shoppers?
Shopper confidence differs significantly by region, reflecting the pandemic’s impact on the country. Confidence has increased the most in London, while Scottish shoppers are least confident.
Do you know how the pandemic is affecting your key shopper groups?
Trust in our industry continues to be strong
Positivity towards the food and grocery industry is at a seven-year high, despite low overall shopper confidence.
Retailers and suppliers across the country have helped those in need, increasing shoppers’ trust in them. Shoppers say supporting local communities, suppliers, and farmers, and ensuring good availability, have stood out for them.
Can you build your shoppers’ trust by showing them how you’re supporting the wider industry and community?
Source: IGD ShopperVista; Base: 1,000+ ALL shoppers, May’20
Stay close to food and grocery shoppers
We talk to British shoppers every day of the year to help keep our members in touch with the pulse of the nation.
Use the Shopper Confidence Index on a month-to-month basis to stay close to shopper sentiment and use it as a foundation for short and long-term initiatives. It will give your plans context and help you develop category strategies to deal with the evolving situation.
Existing ShopperVista subscribers can access May’s full Shopper Confidence Index here.
Not a subscriber to ShopperVista? Leave your details below to download an abridged version of the May index.