If you want to see what someone really values, watch how they spend their time and money.
While this is generally true in life, it is definitely true with shopper behavior. NPR's "Graphing America" series looked at how we are spending money on groceries, and what has changed over the past 30 years.
Even as the costs of food has risen, overall grocery spending is down. Grocery spending as a percent of income is at 9% , down from 12%. The biggest single change is with processed foods and sweets, which has doubled as percent of grocery money.
Based on technology's continued influence on retail and shopping, what do you predict this chart will look like in 5-10 years? How will the recent focus on local and organic produce shift spending? Will private brands continue their growth as percent of baskets?
Regardless of current and future shifts, some things won't change:
For brands, there will always be a need to focus on shopper engagement at the point of sale (be it physical or digital).
For retailers, there will always be a need to focus on the shopping experience (be it physical or digital), as experience is the intangible differentiator that will keep shoppers coming back.
Learn more about our agency's perspective on shopper marketing at birdsonggregory.com