New research from dunnhumby, a company that specialises in customer data science, reveals over a third of Aussies (35 per cent) have noticed the price of groceries across the country is increasing, with many feeling their money being stretched during the COVID-19 pandemic.
The dunnhumby Coronavirus: Australia – Attitudes and Behaviour report, which surveyed the shopping attitudes, behaviours and satisfaction of consumers, found 37 per cent of Aussies say that their money isn’t going as far as it used to when grocery shopping. The research also shows significant concerns about the longer-term impact of COVID-19 on the economy and personal finances, with 41 per cent of Aussies saying their own finances are weak and over three quarters of respondents (76 per cent) feeling that the economy is in a bad shape.
“Now more than ever, shoppers want a good deal. Regardless of price increases, it is still the perception of price and value that matters,” says Kylie Gleeson-Long, managing director at dunnhumby Australia. “Retailers must ensure they are using data to inform their strategies on which levers to pull to ensure customers feel better off, whether it’s base prices, promotions, assortment, personalised offers, communications, own label, store or online customer experience.”
The survey shows a rise in number of shopping trips in-store (84 per cent) versus online as behaviour moves towards pre-pandemic levels. Further, over one third (38 per cent) of people are saying that they spend more per trip, which points to bigger basket sizes and the continued trend of eating at home.
Separately, 62 per cent of people say they are making fewer visits a week, and 57 per cent of Aussies are shopping at fewer stores, opting to buy everything from the one retailer. This highlights the importance of retailers being seen as delivering a good ‘value for basket’ amount as well as having the right assortment of products and safe in-store conditions.
“Aussies can be confident in grocery retailers’ abilities to provide everyday essentials while keeping you safe in store when you visit, without the need for ‘stocking up’ or spending more in the process,” Gleeson-Long added.
When asked to rate their confidence in the largest grocery retailers, 46 per cent of Aussies say that Woolworths is doing a good job at managing coronavirus and its related issues. This was followed closely by Coles at 38 per cent and ALDI at 16 per cent.