SOURCE: Packaged Facts

June 09, 2008 15:36 ET

Blue Light Specials More Intriguing Than Ever as U.S. Economic Downturn Creates a Cohort of Value Barging Shoppers

NEW YORK, NY--(Marketwire - June 9, 2008) - Bargains are more important than ever as a U.S. economic recession begins to rear its ugly head. Consumers will be forced to forgo purchases of non-essential items in lieu of their higher priced necessities. A new report from market research leader Packaged Facts, "The American Value Shopper in a Down Economy," indicates that 55% of households with $50,000 in annual income and 45% over $50,000 will shift their spending habits to reduce expenditures. In fact, higher income households have been operating under tighter monthly budgets from as early as 2005.

As the economy shifts into unpredictable waters, consumers who have previously avoided discount stores and off-price retailers are now giving them a second chance. And this trend is nothing new, as during previous downturns, stores specializing in low prices have prospered; especially mega stores such as Wal-mart, which offer a variety of goods and services, thus allowing consumers to consolidate shopping trips and save time and gas money.

"The American Value Shopper in a Down Economy" examines the current state of the economy as of May 2008 and its effect on the attitudes, behaviors and motivations of U.S. consumers. Focus is set on modern day value shoppers, including demographics, psychographics, and retail preferences. This report also provides in-depth analysis of four comparative shopper groups -- average value shoppers, extreme value shoppers, entertainment-focused shoppers and no interest shoppers.

"Not necessarily driven by economics, value shoppers, as a group, are highly engaged in their surroundings and are participators," comments Tatjana Meerman, Publisher of Packaged Facts. "They consider themselves experts in the field of product and services research and enjoy the thrill of the chase. This cohort is likely to shop more frequently and spend the time to find a good deal."

The challenge for retailers is to appeal to consumers across all categories of Value Shoppers, especially in the face of a precarious economy. Controlling the conditions in which they shop is the locus of retailer power. Whether offering "one-day" sales or lower "suggested retail prices," retailers need to keep in mind they are dealing with informed consumers who are suspicious of sales and trust their own research to form ideas of what constitutes a regular price. For further information visit: http://www.packagedfacts.com/American-Value-Shopper-1792254/

Packaged Facts publishes market intelligence on a wide range of consumer industries, including consumer goods and retailing, foods and beverages, demographics, pet, and financial products. Packaged Facts also offers a full range of custom research services. For more information visit www.packagedfacts.com, or contact Jenn Tekin at 240-747-3015 or jtekin@marketresearch.com.

Contact Information