Survey: Everyday prices drive grocery purchases
NEW YORK — Most consumers base their grocery purchase decisions on very basic information. According to new research from data analytics solution provider Precima, 80% of U.S. shoppers choose their primary grocery store based on everyday prices, with two-thirds (65%) stating that the everyday (regular/non-sale) prices of staple items such as milk and eggs most influence their price perception of a grocery retailer.
With seven in 10 Americans reporting they have shopped at their primary grocery store for more than five years, it’s become increasingly important that grocers secure a favorable price perception in the marketplace. When asked what most drove their price perception of a particular retailer, 65% of respondents reported that the everyday/regular prices of staple items was most important in driving price perception, followed by the average spend/bill each time they shop at the store (59%) and the products they shop for that have the lowest prices (58%).
In addition to the online consumer survey of 3,000-plus respondents, Precima completed in-person intercept surveys with 70 shoppers in Chicago who had just exited an EDLP, Hi-Lo or High-end grocer with a grocery purchase. When asked how many items in their basket they could remember the prices of, on average shoppers reported being able to name 12 items. However in reality, they could only accurately recall the prices of two items among everything they purchased.
Hallmark Business Connections names new president
Hallmark Business Connections, a subsidiary of Hallmark Cards Inc., has named longtime employee Tressa Angell as its new president.
Angell, who succeeds Keith Fenhaus, has worked at Hallmark or 18 years. The most recent customer strategy director of the Walmart account, Angell started at the company as an assistant product manager immediately after graduating college.
"I'm excited to continue my career within the Hallmark family," Angell said in a press release. "It's rare to spend your entire career with one company, and this is an ideal opportunity to grow an already vibrant organization within Hallmark."
Hallmark Business Connections is headquartered in Minneapolis, with other locations in Kansas City and Duluth, Minn.
Family Dollar sees 0.7% lift in Q3 comps
MATTHEWS, N.C. — Family Dollar Stores reported on Wednesday a slight lift in third quarter sales and net income of $79.9 million.
Total net sales during the quarter increased 2.6% to $2.73 billion from $2.66 billion in the third quarter of fiscal 2014. Comparable store sales for the 13-week period increased 0.7% as a result of an increase in the number of customer transactions, which was partially offset by a decrease in the average customer transaction value, the company stated.
During the quarter, net income totaled $79.9 million compared with $81.1 million in the year-ago period. On a per-share basis, net income was 70 cents compared with 71 cents in the year-ago period. Excluding $4.7 million of expenses in the third quarter of fiscal 2015 related to the pending merger with Dollar Tree, and $24.5 million in restructuring charges in the third quarter of fiscal 2014, adjusted net income per diluted share was $74 cents compared with 85 cents in the third quarter of fiscal 2014.