As convenience retailers head into 2025, understanding top trends and concerns in 2024 will help guide the path ahead. Financial stability and health were big drivers this past year in consumer shopping patterns, according to 84.51°’s “2024 Year in Review: Balancing Act: Wallet & Wellness” report.
Inflation
While inflation concerns have leveled off a touch, shoppers were still finding ways to save money in 2024. Primarily, this was done by searching for sales/deals/coupons more often (averaging 67% for the year). The most noticeable price increases included dairy (80%); deli, meat and fish (77%); produce (73%); and drinks (70%).
Health
Alongside finances, health was also a large concern, and shoppers tended to pay more attention to the foods they ate, including looking at the labels on products. Seventy-five percent of shoppers read labels on healthcare products, 65% for frozen food, 63% for cereal and shelf-stable items and 62% for drinks.
With health comes a shift to certain diets for some consumers, and a few categories are seeing growth in plant-based consumption. Milk is the top category that more customers plan to go plant based.
Snacks and Drinks
According to 84.51°’s report, more shoppers are snacking multiple times daily. Price, quality and flavor were the most important drivers, and although health was a concern for many, it wasn’t the most important factor in choosing a snack. Sales and coupons were also factors.
As far as beverages are concerned, 87% of shoppers consumer functional beverages. Fifty-six percent enjoy juices, while 44% choose sports drinks and 35% opt for protein drinks.Thirty-four percent of customers want water enhancers while 27% want functional energy drinks.
Customers aged 25-34 are more likely to drink digestive health beverages, antioxidant-enhanced beverages and CBD/THC-infused drinks, the report noted. Meanwhile, 23% of shoppers consume non-alcoholic versions of alcoholic beverages.
Loyalty
Loyalty also played a role in consumer shopping trends. Based on 84.51°’s report, eighty-four percent of customers have brand loyalty because the brand is a good value for the money, while 56% do so because the brand is one they trust.
Brand loyalty is strongest among those shopping for pet food (70%), followed by drinks (61%) and personal care (60%). Fewer people remain brand loyal for produce (40%), fresh bakery items (41%) and shelf-stable goods (44%).
When prioritizing a loyalty program, most customers prefer digital coupons and a percent or dollar amount off their total purchase as opposed to charitable donations or fuel-point discounts.
