What you need to know
The majority of consumers practice budgeting, in some form, with some doing so out of necessity and others doing so as a way to save and plan ahead. Budget shoppers are highly motivated by price, and will put in the work to score a deal and find the best prices. They’re willing to shop around across multiple retailers and brands, making it a challenge to build loyalty; however, there’s an opportunity for retailers to unlock the potential of store brands and offer new ways to help consumers stay on track with their spending without resorting to constant promotions.
Definition
This Report explores the shopping behavior and attitudes of budget shoppers. In particular, the Report tracks how budget shoppers’ shopping behaviors have changed from the peak of the recession (2008-09), immediately following the recession (2010), to recovery (2012-14) and today (2017).
For the purposes of this Report, the term “budget shopper” refers to the degree to which consumers across a range of demographics/income groups assess the budgetary impact of their shopping and spending habits by weighing sales incentives and cost-savings behaviors against where they choose to shop and what they choose to purchase.
This Report builds on the analysis presented in Mintel’s The Budget Shopper – US, December 2015, December 2014 and June 2012 as well as the Budget Shopper – US, October 2010, October 2009 and October 2008 Reports.
