Examining What Innovation, 'New' Mean to Shoppers
Most grocery shoppers claim to be open to innovation, but their carts often tell a different story, according to new insights from Kroger retail data science company 84.51°.
The latest Consumer Digest from 84.51° reveals what "new" really means to shoppers, when they actually decide to try something different, and what helps them break their autopilot habits.
The research indicates that the majority of shoppers aren’t waiting for the next great product to change their habits dramatically, especially from existing brands. Instead, innovation comes in different forms, with 88% of shoppers considering a new flavor innovative, 56% saying that seasonal versions fit the bill, and 44% believing new product features or product claims are also innovative in their minds.
No matter the innovation, 51% of consumers consider items to be new within six months from launch, offering brands and retailers ample time to promote trial. Additionally, consumers report buying new items on approximately three of every 10 shopping trips.
Location Matters
Four out of five shoppers say that they decide to buy new items while shopping, giving retailers and brands even more reasons to meet them where they are. According to the report, in-store displays or promotions, word of mouth and digital media ads are the best way to do that. A full 68% of in-store shoppers expect to find innovation on endcaps, compared to just 22% in the checkout areas. Just over half of online shoppers rely on ads for new products, with slightly less perusing the savings page and 37% hoping to see innovation in their suggested products.
Value Encourages Trial
Discounts are the key factor to convince shoppers to switch from what they consistently add to their carts to something new. Sixty percent of consumers will switch to a new product if the new item is just 5% lower than the regular price, while 80% are willing to try the new item if it’s 20% lower than the regular price. Coupons and free samples round out the main ways retailers and brands can encourage new product purchases in-store.
Getting Consumers Talking
When a product tastes unique or different, more than half (59%) of consumers are likely to share their experience with others. Other buzzworthy factors are if a product has a better quality at the same price (50%), made life easier (39%), noticeable health benefits (35%) or came from a loved brand (35%).
Find Shoppers Where They Are
Multi-modal shoppers lead in media engagement, with 61% noticing ads and media featuring new products while only 32% of those shopping in-store can make the same claim. What’s more, the research shows that 52% of those who shop outside of brick-and-mortar report daily media consumption exposing them to the latest product trends.
Considering that shoppers who are exposed to innovation via media claim to be more likely to purchase gives brands and retailers even more fuel to create a full omnichannel approach when putting innovative products on shelf.
