 | |
 | |
 | |
 | |
 | |
 | |
 | |
 | |
 |
Quick Links: |
DISCOUNT STORE SHOPPERS SET NEW RECORD
The number of shoppers drawn to discount stores for their purchase reached an all-time high of 93.7 percent during the last month. The number of shoppers drawn to discount stores for their purchase reached an all-time high of 93.7 percent during the last month.
In the ten years that I have been conducting the Consumer Mind Reader ™ Survey for America’s Research Group, I have never seen such a huge majority of American consumers turning to a single retail category. To attract 937 of the 1,000 consumers we interviewed for the survey is unprecedented.
Given the state of our economy, the reason behind the dash for discount prices is obvious. Continually rising fuel costs are now being felt not only at the pump, but in the price of products in retail stores.
The recession has already forced American families into a belt-tightening mentality. Between looming foreclosures, business layoffs and general economic uncertainty, luxury shopping is out the window. There’s room in the family budget for items on the wish list. Consumers are not buying what they want because they can only afford what they need.
These factors directly benefit discount stores, perceived by consumers as the best value store with the best prices.
Another big advantage discount stores enjoy these days is shopping convenience. With gas prices so high, consumers aren’t driving to specialty stores when they can buy everything they need in a single location.
Tax rebate checks will be in the mail soon. Normally consumers see them as windfalls to splurge on a big ticket item. But this year more and more Americans will be using the rebates just to pay their bills.
----
Britt Beemer, founder and chairman of America’s Research Group, is the country’s leading authority on retail buying habits of consumers. ARG tracks consumer buying habits more than any other survey research firm in the nation. The company conducts customized surveys for retail and manufacturing clients across the United States, designed to provide clients valuable marketing recommendations to grow their businesses. . Beemer is author of two best-selling business books, Predatory Marketing and It Takes a Prophet to Make a Profit. He is currently working on a third business book, to be entitled The Customer Rules, which is due out in the fall of 2008. More detailed information is available on the America’s Research Group website at www.americasresearchgroup.com