VANCOUVER, BC / ACCESSWIRE / December 12, 2022 / Snipp Interactive Inc. ("Snipp" or the "Company") (TSX-V:SPN)(OTC PINK:SNIPF), a Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector, is pleased to release its latest US consumer survey and insights, "Inflation and the Ever-Evolving Shopper". Snipp conducted this survey to better understand American consumer behaviors and shopping preferences during these inflationary times.
The survey validates many recognized behaviors including shoppers' return to physical retail, but reveals surprising insights about their brand loyalty, store choices and price sensitivities. It also reveals that with fluctuating prices at the pump, increasing interest rates and ever-escalating grocery bills, consumers are on a mission to economize.
Shoppers are back in-store but seeking value with a vengeance, switching retailers and brands at every turn to help take the sting out of rising costs across all categories. Some of the key insights from the survey include:
- Shoppers are back in stores: 60% of those surveyed reported they shop in physical stores more than they did compared to the same time last year.
- Switching brands and retailers: 57% have switched to a new retailer to save money, 51% choose similar items from a different brand when their favorite item is out of stock.
- Shopping more at Walmart, less at Target: Compared to the same time last year, 32% shopped more at Walmart and 39% shopped less at Target.
- Budgeting More: 51% are trying to stick to a certain budget more than in the past.
- Seeking Savings: 73% are buying products on deals more than a year ago.
"In the current environment, consumer loyalty is fleeting, so brands and retailers need to take appropriate actions to meet current and newly acquired shoppers in their preferred channels. This survey illuminates the necessity for CPG brands and retailers to create value that goes beyond price in order to stay competitive and relevant with fickle, savings-minded consumers", said Tom Treanor CMO of Snipp.
As brands and retailers continually walk the tightrope between delivering value to consumers and profits to their bottom line, the report also offers strategies for innovative marketers to engage savings-minded shoppers, successfully meeting both objectives in today's value-driven economy.
The data was collected in November 2022, via an online survey of 500 U.S. adults (18 and over) who regularly shop for themselves or their families.
The full report is available at this link:
For press enquiries, contact us here:
More information about our platform can be found at https://www.snipp.com/
Snipp Interactive Inc (TSX-V: SPN; OTCPK: SNIPF) is a Platform-as-a-Service (PaaS) company in the global loyalty and promotions sector. Snipp’s proprietary and modular SnippCARE (Customer Acquisition, Retention & Engagement) Platform allows its marquee list of Fortune 1000 Clients and world-class agencies and partners to use various modules of the Platform to run long-term and short-term programs and promotions, while continually generating and capturing unique zero party data that is invaluable in providing insights to drive sales. SnippCHECK, the Platform’s Receipt Processing Module has established itself as the clear industry leader and standard by powering a large majority of all receipt-based promotions in North America. SnippLOYALTY, the Platform’s full scale modular loyalty engine allows clients the flexibility of deploying any/all aspects of a standard loyalty program on a case-by-case basis. SnippREWARDS, the Platform’s modular catalogue of digital and physical rewards provides Clients with global and easily deployable access to an extensive catalogue of digital and physical rewards. SnippWIN, the Platform’s gaming module solves for the implementation and compliance difficulties of offering games of chance and skill on a global basis and allows for the global deployment and administration of legally compliant games of chance and skill. For more information, visit the Company’s website at www.snipp.com
Snipp is headquartered in Vancouver, Canada with a presence across the United States, Canada, Ireland, Europe, and India. The company is publicly listed on the Toronto Stock Venture Exchange (TSX-V) in Canada and is also quoted on the OTC Pink marketplace under the symbol SNIPF.
FOR FURTHER INFORMATION PLEASE CONTACT:
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as changes in demand for and prices for the products of the company or the materials required to produce those products, labour relations problems, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. The reader is cautioned not to put undue reliance on such forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright Snipp Interactive Inc. All rights reserved. All other trademarks and trade names are the property of their respective owners.