Consumer Trends March 2018
[Pages:22]Consumer Connect Q4 2018
CONSUMER CONFIDENCE REFLECTED IN E-COMMERCE GROWTH
Joan Driggs Vice President Content and Thought Leadership
February 2019
Consumer Connect Q4 2018
IRI's Consumer Connect Survey is published after each calendar quarter and reflects shoppers' reported economic health, as well as behaviors and attitudes toward purchasing and utilizing CPG and health care products.
For the most recent quarter, October ? December 2018, we focus on respondents' e-commerce attitudes and behaviors. To review past Consumer Connect reports, click here.
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Executive Summary
Consumer confidence has remained favorable over the past several years. Still, 30 percent of respondents to IRI's Consumer Connect Survey report they struggle financially.
Notably, Gen Xers, followed by Millennials, are the most likely to report they struggle to afford needed groceries. But these generations are increasingly working their way out of debt and into greater financial stability. Some 55 percent of total Consumer Connect Survey respondents report their households are in good financial shape, up 4 percentage points from Q3 2018.
While 2019 is off to a rocky start, with a partial government shutdown and trade challenges attributed to tariffs, consumers at the close of 2018 were buoyed by their strong household financial health and were spending accordingly.
Hand-in-hand with consumer confidence is the growing and evolving e-commerce channel. Consumers are increasingly comfortable with online purchasing and retailers of all stripes are investing in their online offerings.
Non-food items, particularly personal care and home care products, are tops in online purchases. IRI E-Market Insights reports that vitamins, pet food and supplies, and skin care products are the top selling items.
Pure-play retailers garner well more than half of all online CPG purchases, but traditional brick-and-mortar retailers continue to invest and win share of the e-commerce pie.
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Consumer Sentiment Is Up Nearly One Point Versus Q4 2017
However It Inched Up Marginally Since Q3 2017
100.0% 100.0%
99.5%
99.0%
98.5%
98.0% 97.5% 97.0%
97.5% 97.0%
96.5%
0.0% Q1 2016
Q2 2016
Q3 2016
Consumer Sentiment Index Total U.S.
99.0%
98.6%
99.5%
97.3%
96.4%
Q4 2016
Q1 2017
96.8%
Q2 2017
Q3 2017
Q4 2017
Q1 2018
In Q4 2018, consumer sentiment increased as incomes rose and unemployment declined.
98.7%
98.2%
97.6%
Q2 2018
Q3 2018
Q4 2018
Average = 100 Source: Consumer ConnectTM, Q4 2018
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Fifty-five Percent of Consumers Report Their Financial Situation Is Healthy
Especially Seniors and High-income Households
Households Having Good Financial Health % of Households, Total U.S.
Q4 2018 Q3 2018 Q2 2018 Q1 2018
55% 51%
55% 56%
Income
> $100K $55K-$99.9K $35K-$54.9K
< $35K
Millennials Gen X
30%
Generation
Q4 2017
53%
Boomers Seniors
82% 64% 55%
53% 51% 52%
67%
Source: IRI Consumer ConnectTM, Q4 2018
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Among Generations, Gen X Report Having the Most Difficulty Affording Needed Groceries, Followed by Millennials
30%
of consumers
have difficulty affording needed groceries
34%
of Millennials
36%
of Generation Xers
32%
of Boomers
20%
of Seniors
Source: Consumer ConnectTM, Q4 2018
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Online Shopping to Save Money Is Increasingly Popular Among Millennials and Gen X Consumers
Online Shopping Value Perceptions by Generation
Online order/in-store pick-up (click-and-collect) allows me
convenience without the added shipping fee
Buying online allows me to find lower-priced food and beverage options
Buying online allows me to find lower-priced
OTC medication options
Buying online allows me to find lower-priced
beauty/personal care product options
Buying online allows me to find lower-priced
home care options
24%
38% 38%
49% 48%
12%
20%
21% 20%
31%
23% 28%
23% 23%
18%
14%
29% 27%
35%
45%
19%
30% 27%
36%
43%
Total U.S. Millennials
Gen X Boomers
Seniors
% of respondents, Top 2 Box Summary Source: IRI Consumer ConnectTM, Q4 2018
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In Addition to Convenience, Free and Fast Shipping Are Also Main Drivers for Online Shopping
Capabilities That Drive Channel Selection
Online purchasing with
free delivery
Online purchasing with
fast delivery
Online purchasing with
in-store pick up
Online purchasing of freshly
prepared items
Subscription services for frequently purchased
grocery items
23%
32%
43% 47%
45%
57% 56%
68% 69%
56% 61%
40% 39%
52% 50%
30%
16%
28%
20% 26%
17% 11%
33%
42% 42%
Total U.S. Millennials
Gen X Boomers
Seniors
% of respondents, Very/Important Summary Source: IRI Consumer ConnectTM, Q4 2018
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