Jun 17

Written by: IRI Blog
6/17/2009 1:21 PM

The beginning of summer is only days away and most families have already started to think about and make plans with friends and family – booking vacations, road trips, camping trips and other adventures.  However, this year may be a bit different for American families, as they continue to monitor their budgets in these tense economic times.

At IRI, we have been tracking the evolution of shopper behavior to help CPG retailers and manufacturers anticipate their customers’ needs. Through our Transforming Economy series of reports during the past 12 months, we’ve documented a number of subtle and drastic changes consumers are making to save cash and cope with job losses.

Next week, we will report the results of our recent “Summer Rituals” survey that asks U.S. consumers a variety of questions regarding their plans this summer and how they will spend their money. We have a hunch that many consumers are planning for a more frugal summer than in years past. 

• Will the economy and gas prices slow individuals down this summer?
• Are families planning to eat out or dine in?
• How are people planning to spend their vacation budgets?

Anticipating trends in consumer spending habits based on economic factors and timing is a critical strategy for CPG retailers and manufacturers. Staying a step ahead of the game can mean the difference between keeping a valued shopper or losing him or her to another product or store.

Check back with us next week to explore the results of our “Summer Rituals” survey and let us know what you think.

Enjoy your summer!

Best,
Thom Blischok

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