How Will Inflation Affect Grocers this Holiday Season?
Inflation has been on everyone’s mind this year, especially regarding grocery prices. With multiple food-centered holidays around the corner, 45% of shoppers are worried their traditional meals will pay the price. Experts confirmed consumer fears and predicted we’ll be seeing a very expensive holiday season. Between a cost-of-living crisis and an outbreak of avian flu, staples like turkey, eggs, and flour have all seen a dramatic increase in price recently.
Shoppers are expected to make some changes to adapt this year. Many have become accustomed to supply chain shortages and are planning to act accordingly. One survey said 50% of shoppers will try preparing a different dish than they have in the past, while 36% said they will look for a new recipe in the event of ingredient shortages. Additionally, 37% of consumers plan on doing their Thanksgiving shopping further in advance in preparation for shortages.
How can grocers prepare for these upcoming changes? Utilizing tech and leveraging your customer data using your store’s app can help your shoppers save this season, and help you stay ahead of the holiday madness.
Optimizing your store’s app can create a one-stop shop for your customers to save by using digital coupons and loyalty reward programs. Going digital with your coupons can come with significant benefits. Not only is it more cost-effective than printing coupons with a quicker turnaround time, but you’re also able to get a better understanding of your customers’ spending habits. Additionally, utilizing AI learning where available can provide your customers with a more personalized experience. Tailoring your shoppers’ experience can help build trust, so they know you have their wallet’s best interest in mind.
Ready to integrate new tech and optimize your store? Speak with a representative today!