Dollar Store Shoppers Increasingly Loyal (Infographic)
Most will continue to shop channel, and more frequently, even if economy improves
Published in CSP Daily News
STATE COLLEGE, Pa. -- Approximately 90% of value/dollar store customers plan to continue shopping the channel, even if their current economic situation improves, according to a recent study by VideoMining Corp., a provider of in-store behavior analytics from its Value/Dollar Shopper Insights (VSI) program.
This result reflects increased loyalty in the channel, once thought of as a clearinghouse for unsold products, but steadily becoming a critical retail battleground for manufacturers with its own shopper base. The study also revealed greater frequency among shoppers, as 54% indicated that they increased shopping in the channel over the past year, twice that of the next highest channel.
The study also uncovered other findings about the way shoppers approach the channel. For instance, 80% of all value/dollar store shoppers said they planned their trips in advance. Despite the destination status of the channel, shoppers remain open-minded, as more than half (51%) made their final brand-buying decisions in the store.
"The findings from this year's study [show] the continued growth of this key class of trade, and [it] takes a deep look at the factors that are affecting conversion for these cost-conscious shoppers," said Jeff Friedlaender, VideoMining's president of shopper research.
These findings are the result of a nationwide survey, conducted by VideoMining late last year, of 2,500 nationwide value and dollar shoppers on all aspects of their shopping trips at retailers such as Family Dollar, Dollar General and Dollar Tree.
The report marks VideoMining's initial industry-wide offering of its Value/Dollar Shopper Insights (VSI) program, which it expects to include a nationwide, behavioral MegaStudy of millions of in-store shoppers. VideoMining conducted similar research in the grocery and convenience channels. Currently, the company offers custom in-store behavior testing of value and dollar shoppers.
State College, Pa.-based VideoMining is a leading provider of in-store intelligence for shopper marketing.