BrandSpark International's Best New Product Awards (BNPA), one of the largest North American consumer survey programs focused on new product development and innovation, today revealed research and insights from its first American Grocery Shopper Study.
The study, which surveyed more than 50,000 U.S. shoppers, revealed key findings in the areas of current and future spending habits, brand preferences, attitudes toward organics and environmental accountability, and a profile of today's "early adopter" shopper. The survey follows the December 30th announcement of the 23 winners of the first U.S. Best New Product Awards.
At a New York breakfast today presented by consumer media partner Better Homes and Gardens, Robert Levy, President and CEO of BrandSpark International and founder of the BNPA announced key findings* on:
Consumer Spending and Confidence
Some of the top lifestyle changes consumers are making to cope with the current economic state include: "eat out less/eat in more," "turn down the thermostat," "be more efficient with my shopping trips," and "buy less name brand products/buy in bulk."
-- 52% of U.S. grocery shoppers said they plan to eat at home more often
than last year.
-- 96% of shoppers considered it important that any new product provide
them value for the dollar.
-- Over 80% of consumers said they will spend the same or more on
essential personal care products as they did last year.
-- When respondents were asked to name their most trusted grocery store
brands, Kraft topped the list, followed by Campbell's, General Mills,
Procter & Gamble, Johnson & Johnson, Kellogg's, Betty Crocker, Del
Monte, Tide and Clorox.
Green and Natural Products
-- 70% of consumers are motivated to buy products that are better for the
environment, but only 40% are willing to pay more for those products.
-- 75% of consumers believe that some companies are exploiting
environmentally friendly claims for marketing purposes.
-- 58% of shoppers consider it important for a new product they purchase
to be "natural."
-- 78% of shoppers believe that manufacturers have a long way to go to
reduce the amount of packaging.
Health and Wellness
-- Shoppers revealed health as a greater priority, with 68% reporting
increasing concerns about their health.
-- Consumers are becoming increasingly concerned about chemicals in
products: 68% expressed increased concern about chemicals in food
products; 63% in household products; 57% in skin care products.
-- Over 80% of respondents believe that making better food choices can
-- 71% of consumers are concerned about the added health claims of
products they purchase.
"The survey revealed that "early adopters" show stronger brand loyalty and prefer products that are environmentally friendly and offer improved technology and innovation," says Levy.
-- 80% of shoppers who qualify as "early adopters" - first to try new
products - are women.
-- In relation to the larger shopper demographic, early adopters are more
receptive to the influence of internet, social media and magazines:
early adopters spend 50% more time per week reading magazines and 50%
have downloaded coupons off the internet
"This survey provides a roadmap for manufacturers, allowing them to pinpoint their efforts on those areas that are most important to shoppers today," says Levy. "We have uncovered what matters most to shoppers, who they're listening to, where they're willing to spend, and what shopping trends we can expect in the year ahead."
Source: BrandSpark International