Report: Supermarkets Most Likely Place to Spend Gas Savings
Toronto As gas prices continue to drop, shoppers are choosing to spend these savings on groceries, according to a study from retail-analytics firm Precima.
In mid-July, pump prices were hovering around $4 a gallon. Today, those prices have dropped 57%. According to responses from 3,013 consumers, 48% of shoppers are investing the money they saved on gas on their household groceries.
For shoppers who have suffered a direct financial loss during the recession, 55% said they are spending gas savings on groceries. Fifty-nine percent of shoppers whose annual income is less than $35,000 are spending these dollars on groceries.
“Clearly this is a silver-lining for grocers in the economic dark cloud,” said Brian Ross, general manager of Precima. “With relief at the pump, consumers are returning to some of the aisles they may have foregone in recent months, since many more are now eating at home more regularly. This presents real opportunities for grocers who target their strategies to meet the needs of cash-strapped consumers.”
Meanwhile, 42% of consumers are putting those discretionary dollars into their savings; 37% are using the savings for holiday shopping; and 30% are paying off credit cards.
Hannaford to implement Retail Solutions POS service
SUNNYVALE, Calif. Hannaford, which operates 167 stores in the Northeastern United States, will start sharing product point-of-sale (POS) data by store, by day and by SKU using Retail Solutions Demand Signal Management (DSM) solution.
“We look to Retail Solutions to help our suppliers access and leverage our data,” said Scott Craig, director of supply chain services, Hannaford. “Retailer-supplier collaboration is a key strategy for Hannaford and we need a single version of the truth – a rich, up-to-date data set on which to base our decisions. Retail Solutions provides this data foundation at a minimum effort and cost for all parties.”
SuperTarget among healthiest groceries
MINNEAPOLIS Health magazine has chosen SuperTarget as one of the top ten healthiest grocery stores in the United States.
To chose the 10 healthiest stores, Health magazine teamed up with a panel of nutrition experts to review the 35 largest grocery stores on freshness of produce, taste of prepared foods, healthfulness of packaged goods and availability of supplemental nutritional information.
“The recognition by Health magazine acknowledges our commitment to providing SuperTarget guests with healthy, high quality food options at low prices,” says Greg Duppler, senior vp of Target. “Through our certified organic produce department, better-for-you food choices and Archer Farms collection, SuperTarget makes healthy shopping easier for our guests.”