With inflation still high, it comes as no surprise that consumers are doing what they can to save money. Even though we are not currently in what would be classified as a, “recession” consumers are doing more cooking at home, seeking out cheaper gas, and utilizing coupons to save money. People are behaving as if we are in a recession and the big retailers are doing what they can to lure customers in.
Many big retailers such as Walmart and Best Buy are focusing on their loyalty programs and memberships to attract customers to stick to them for their shopping needs. Target has been increasing inventory on grocery items and common household goods such as paper towels. These retailers’ goal is to try to sell basic necessities to their end user to keep customers coming in the door. Kroger is also focusing on keeping customers in their loyalty programs and getting them into a cycle of achieving rewards to encourage repeat buying.
Some retailers are using free shipping to try and lure customers into their loyalty programs and not necessarily just offering free shipping off the bat. Amazon grocery used to be free shipping but now the order must be at least $150 or more in order to get free shipping. The retailers are getting smarter on ways to get customers to shop with them and what to give back as an incentive as they carefully watch their margins and bottom lines going into the rest of 2023.
To read more, click the link below.