quickBites CUSTOMER PURCHASE BEHAVIOR SHIFTS Digital technology, growing prices due to inflation and generational preferences are driving changes in customer shopping habits.
INFLATION CONCERNS MOUNT
Some 89% of customers are concerned about inflation and eight in 10 customers have adjusted their shopping budget and purchasing behavior due to inflation.
What concerns customers most about inflation?
What are consumers spending less on due to inflation?
68% said the potential for everyday items to skyrocket in price.
Restaurant takeout (52%)
43% pointed to limited supply making it difficult to shop for quality items.
Clothing (45%)
42% said they don’t make enough money to afford the high prices.
Gas (43%)
Source: Smarty, a cash-back shopping portal, surveyed 1,000 U.S. customers between March 22-24, 2022
BRAND LOYALTY DIPS
MILLENNIALS AND BOOMERS COPE DIFFERENTLY • Millennials are less likely to sacrifice their shopping habits compared to baby boomers.
Some 59% of consumers are buying less expensive brands to cut costs, causing brand loyalty to suffer.
• Baby boomers are nearly twice as likely as millennials to go without some products.
• 48% of consumers are more likely to shop for a brand that has consistently lower prices.
• Only 35% of millenials would buy a less expensive brand.
• Customer willingness to switch to a new brand that is more affordable rose 12% quarter-over-quarter.
• Baby boomers are more likely to shop in-store to avoid paying for shipping.
Source: Jungle Scout’s “Q2 2022 Consumer Trends Report,” an anonymous survey conducted between May 6 -10, 2022, among 1,000 U.S. consumers in 48 U.S. states; all genders, and ages 18 to 75-plus, as well as varying employment types and income levels
DELIVERY TRENDS EVOLVE
GEN Z HABITS DIFFER
Compared to other generations Gen Z is more likely to:
• Dine out for an evening or late-night snack. • Use drive-through and delivery as modes of dining. • Place their takeout order through the restaurant’s mobile app.
33% of all orders were received digitally in March 2022.
55% of all digital orders were for takeout as opposed to delivery or curbside pickup in March 2022.
42% dip in dine-in sales in January 2022 compared to January 2020.
Source: Paytronix, The Order & Delivery Report, 2022
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CSTORE DECISIONS • August 2022
• Use in-restaurant digital tablets when dining in. • Make dining decisions spur-of-the-moment. • Be motivated by food indulgence and less by convenience when dining out.
• Be influenced by budget when choosing a specific outlet.
• Order beverages that are seen as treats, including iced coffee, regular sparkling soft drinks, milkshakes and slushies.
Source: Coca-Cola DINE360, Total U.S., Annual 2021
cstoredecisions.com
