Swiftly Consumer Survey Reveals 69% of Shoppers Struggle to Pay Their Grocery Bills

News provided by

Dec 07, 2022, 09:00 ET

Survey uncovers new, eye-opening data and trends, with nearly all respondents indicating they use some form of loyalty tool to offset higher costs due to current economic challenges

SEATTLE, Dec. 7, 2022 /PRNewswire/ -- Swiftly®, a retail technology platform company delivering omnichannel tools for retailers, today unveiled their True Cost of a Grocery Shop survey, gauging how consumer food shopping habits and behaviors are evolving in the face of rising inflation and costs. The survey found that current economic conditions are significantly impacting nearly all consumers' shopping habits, with more than two-thirds indicating that they are struggling to pay their grocery bills.

Food costs are becoming too expensive for the average American and are only increasing due to record inflation and ongoing economic challenges. Simply put, food costs are too high. Retailers have an opportunity to improve the shopping experience and establish the digital relationships that build long-term loyalty by modernizing and implementing digital tools and solutions that deliver the personalization, value and savings that budget-conscious shoppers demand.

Other key takeaways from the survey include:

Nearly all (83%) survey respondents rely on some form of coupon, rewards app or loyalty program
74% have changed their grocery shopping habits in the last year
70% of respondents prefer and choose to shop in store at a local grocery store
33% are shopping in-store more than years' past

As a result of today's economic uncertainties, the survey confirms that consumers have adapted not just what they buy, but how they buy, and the recent uptick of in-store shopping presents a tremendous opportunity for brick-and-mortar grocers. In tandem, the findings showcase how loyalty programs and digital coupons catalyze and motivate consumers to prioritize in-store visits. To successfully capitalize on these trends and grow their business, grocers must leverage retail technology tools that cultivate engagement, increase store traffic, boost basket size and reinforce loyalty, all while delivering a seamless digital to in-store connection.

"The grocery sector is at a turning point. After massive e-commerce growth throughout the pandemic, we are beginning to see a transition as consumer spending is tested by inflation and a looming recession. Furthermore, the potential consolidation of giant supermarket chains could also lead to increased prices, which would be especially hard for consumers to absorb in today's challenging economy," said Henry Kim, co-founder and CEO of Swiftly. "Findings from this survey amplify the need for today's brick-and-mortar grocers to solidify and own digital customer relationships and modernize digital revenue streams, in order to be competitive and maintain a loyal customer base."

The survey was sent to a randomized group of over 1,500 participants. Individuals did not receive compensation or likewise for their participation in the survey. For more information on Swiftly, please visit www.swiftly.com.

About Swiftly

Swiftly is a leading provider of technology and retail media and technology solutions for retailers worldwide. Founded in 2018, Swiftly offers innovative solutions that drive retail engagement and enable retailers to own the digital relationship with their customer. Swiftly's Retail Tools, Mobile Platforms, Analytics Tools, and Retail Media Network enables retailers to accelerate sales and build loyalty while enabling brands to reach more shoppers and amplify campaigns using the power of 1^st party data. Trusted by hundreds of iconic brands, Swiftly is democratizing retail technology and giving retailers the tools they need to compete in today's crowded marketplace.

SOURCE Swiftly