ENGLEWOOD CLIFFS, N.J. — More than 30% of consumers are eating at home more and eating out less and 40% feel worse off than a year ago, according to a new study released today by Unilever. In response to these tough economic times, consumers want manufacturers and retailers to be creative in product packaging and sales approaches, such as by introducing larger pack sizes, smaller package sizes at lower price points, and modestly reduced package sizes with the same price point, according to the study. Among other findings: To help balance their budgets, 55%, 50% and 41% of survey respondents stated they would “reduce spending a lot” on entertainment, vacations and clothing, respectively; and the top two savings tactics used by shoppers include “only buy when it’s on sale” and “use coupons whenever I buy this product.” Called “Winning Shoppers in Turbulent Times – A Unilever Trip Management Report,” the study is based on a survey of 47,031 Nielsen households and was conducted between March 14 and April 3. Findings were compared with shopper behavior as measured among more than 10 million shopping trips taken by consumers during the year ending Q1 2008.
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