● The average U.S. household takes one less shopping trip per month today versus five years ago, creating a big concern for both retailers and manufacturers. The latest Times & Trends report, Shopping Trip Missions: A New Avenue for Growth, from Information Resources, Inc. (IRI), reveals that trip missions have a dramatic impact on where consumers shop, the path they take through the store, price and promotional sensitivity and what they ultimately buy.
The average number of shopping trips to all outlets has decreased from about 15 trips a month in 2001 to 14 trips a month today. Protecting and growing the share of consumer trips for retailers and share of category sales for manufacturers now requires new approaches to marketing and merchandising based on an enhanced understanding of how consumers shop, be they quick trips, special purpose, fill in or pantry stocking.
For example the IRI survey showed that about one quarter of drug store quick trips were for the main purpose of picking up a prescription, with a similar percentage being for the main purpose of picking up over-the-counter healthcare products. Given that nearly half of drug stores sales are from quick trips, drug stores must continually develop innovative store layouts, merchandising practices and advertising, as competition for quick trips will intensify. More info: http://us.infores.com.