May 14, 2012: FMI Trends Data Point to a ‘New Normal’

DALLAS — The widespread shopper frugality that accompanied the recent recession might have a lasting impact on consumer behavior, according to data released at the recent Food Marketing Institute conference and trade show here. “Informed by a lingering lack of confidence in the economy and the residue of the tough times they’ve faced, the center of shopper buying patterns has shifted in the decided direction of value-seeking behavior and a continued search for the biggest bang for the buck at the checkout stand,” said Leslie G. Sarasin, president and chief executive officer, FMI. “And there is every indication that this move has staying power.” Citing data from the soon-to-be-released Trends survey of consumer behavior, Sarasin noted that consumers seem to have accepted looking for bargains and using private label as part of a “new normal.” In addition, 55% of shoppers said they “accept living with less,” up 13 percentage points. Source: FMI Speaks presentation

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