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Wall Street Journal
Wondering how consumers are coping in such a troubled economy? Look at what's selling instead of which sales are tanking. As consumers muddle through all that is plaguing the U.S. economy, they have battened down the hatches and sharply shifted their spending habits, turning to money-saving options that run the gamut from transportation to health as they find ways to pay for dramatic increases in gasoline and food.
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Wall Street Journal
Spurred by economic worries, American shoppers have quickly decided that cheaper is better. They are trading down to store brands from fancy labels, to small cars from SUVs, and to deep-discounters from full-service stores.
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For IRI’s Thom Blischok, these are just the beginning!
‘Carpe Diem’ doesn’t begin to capture this CPG Renaissance Man’s philosophy of life. ‘Seize the second’ is the only way to live, says the pilot, engineer, naturalist, philanthropist, fish ‘medicine man’–– & more.
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Supermarket News
It sounds like a math problem for a college entrance exam: If Shopper X has Y amount of dollars to spend on groceries, how will she choose to distribute it among Retailers A, B and C when the cost of food and gas have increased Z percent?
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St. Louis Today
While most retailers are being hit hard by the tough economic conditions, Wal-Mart reported a record 17 percent increase in second-quarter earnings on Thursday as shoppers turned to the discounter in search of the best deals. Lower- and middle-income consumers stepped up spending at Wal-Mart early in the economic downturn, but upper-income consumers significantly increased the share of packaged goods spending allocated to Wal-Mart during the past six months as gas prices skyrocketed, the report said.
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MediaPost
While the limping economy has hurt most retailers, Walmart continues to be a big beneficiary. A new report from Information Resources Inc. finds that the Bentonville, Ark.-based company is posting market-share gains in an impressive 84% of the top 100 consumer-product goods categories.
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Convenience Store Petroleum News
Convenience stores have a real opportunity to drive the next stage of growth for craft beers.” While Jim Koch, founder of Boston Beer Co., certainly focused on the might of his company’s brews in his comments made during the opening reception of CSP’s third annual Import, Specialty& Craft Beer Summit, the once-small-time brewer recognized the strength of the c-store channel inthe category and challenged retailers to take it upon themselves to increase sales through wise assortment and generous marketing.
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FOX Business
The sharp paring of consumer spending is already cutting into its next victim: back-to-school sales. Consumers beaten down by prices at grocery stores and gas stations are taking their newfound money-saving ways to the shopping centers and school-supplies stores in what promises to be one of the most challenging back-to-school seasons in many years.
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Press Democrat
Putting food on the table is becoming a financial stretch for Americans of all income levels, according to a marketing research report. With budgets "strained to the breaking point" by rising costs for gasoline, energy, food and other necessities, more than half -- 56 percent -- of consumers earning less than $35,000 a year are having difficulty buying the groceries they need, the report said.
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Wall Street Journal
Spurred by economic worries, American shoppers have quickly decided that cheaper is better. They are trading down to store brands from fancy labels, to small cars from SUVs, and to deep-discounters from full-service stores. Wal-Mart Stores Inc., which last year returned to its discount roots to try to reverse weakening sales, Thursday reported its best monthly sales gain in four years; it benefited from bargain-hunters seeking deals on the most basic stuff.
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Center for Media Research
According to a study from Information Resources, Inc., the lagging economy is driving a dramatic move back to basics and a reversal of decades-long trends for convenient and healthier foods. Roughly half of all consumers with incomes less than $55,000 per year say they have trouble affording the groceries they need, while nearly a quarter of those earning between $55,000 and $99,000 also say so. Among those with incomes over $100,000, 16% report having trouble.
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The Seattle Times
Wondering how consumers are coping in such a troubled economy? Look at what's selling instead of what's tanking. As consumers muddle through all that is plaguing the economy, they have battened down the hatches and sharply shifted their spending habits, turning to money-saving options that run the gamut from transportation to health as they find ways to pay for dramatic increases in gasoline and food. What emerges is a new paradigm of consumerism that some experts believe will live long after the economy recovers.
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Convenience Store Petroleum News
We don’t have to go far to understand this economic storm. It’s everywhere — when our bills arrive, while we’re in the grocery check out line, when we read news headlines. Most people think they are worse off than a year ago and see no help in sight. Well, some would say that nothing lasts forever, but what’s in between forever and a turnaround is the make-or break question for many.
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Mr. Web
Consumer analytics firm Information Resources Inc (IRI) has added a number of new solutions to its Consumer Network household panel to enable clients to gather reactions from hard-to-reach respondents.
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MediaPost
Talk about a topsy-turvy world: A new study shows that consumers are reversing decades-long trends, shunning convenience and healthier foods in search of bargains.
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Supermarket News
High gas prices are helping to drive demand for CPG products, especially basic ingredients for home cooking, as consumers shun restaurant dining and opt to prepare meals themselves, according to a new report from Information Resources Inc.
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Supermarket News
Retailers could see Hispanic loyalty grow, as in-store displays heavily influence the buying decisions of unacculturated Hispanics, or those who speak Spanish most of the time, live in Hispanic communities and favor Spanish-language media.
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Consumer Goods Technology
As the digital age advances,and consumer goods companies begin to utilize alternative marketing methods to reach their consumers, analytical tools and the insights born from them will become even more important to success.
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Chain Drug Review
“The industry we serve is in need of transformation,” stated John Freeland, IRI’s president and chief executive officer. “We have an opportunity to do just that, starting with marrying next-generation technology and analytics with our core business of providing market, consumer and shopper information for our clients.”
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Mass Market Retailers
When John Freeland was named president and chief executive officer of Information Resources Inc. (IRI) in October 2007 he hit the ground running. “The industry we serve is in need of a transformation,” says Freeland. “We have this valuable, vast amount of data you will not find in any other industry. That data must be optimally utilized.”
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