Today's Grocer: How income level impacts indulgence spending
Despite slowing inflation, grocery shoppers continue to be mindful of budgets. The most common cost-saving tactic used by customers across income levels has been seeking out sales and deals more often. At the same time, many are looking for small indulgences that can provide a brief sense of escape or joy without breaking the bank. At 84.51°, we looked into the various products that grocery shoppers purchase as treats or indulgences and discovered some intriguing insights. Indulgence is in the eye of the beholder Based on a study conducted in August, our research shows that even in times of economic uncertainty, shoppers are still coming to grocery stores looking for those small treats or splurges. In fact, candy and snacks, drinks like soft drinks and juices, and produce are the top categories, with more than a third of shoppers indulging here across all income levels. However, differences in the top two rankings highlight unique insights around the opportunity to connect with each shopper group. The top two categories sought by customers across income levels varies:
For shoppers with household incomes under $50K, the top two indulgences are snacks/candy (38%) and drinks (34%)
For shoppers with middle incomes ($50K to under $100K), the top two indulgences are drinks (36%) and produce (35%)
Higher income shoppers ($100K+) indulge most in snacks/candy (38%), followed by produce (34%).
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