Consumers are shifting their shopping habits to the channels they feel best support them, according to IRI’s Q4 2019 Consumer Connect Survey. The survey reveals that, despite the threat of a recession, consumers remain confident about their financial well-being and are contributing to sales growth.
“Despite an atmosphere of economic uncertainty, consumer confidence and outlook remain favorable,” said Joan Driggs, IRI’s vice president of content and thought leadership, in a statement. “That said, certain channels, such as dollar and e-commerce, provide stronger value propositions to customers, and are gaining shopper visits, while more traditional retail channels, such as mass market, supercenters, drug, and grocery show declining visits. This suggests that, despite their confidence in the future, consumers are still focused on finding new ways to save.”