How does grocery shopping change with economic conditions? This Journal of Marketing study suggests that both micro (i.e., individual income) and macro (i.e., the business cycle) conditions substantially influence grocery shopping behavior in important ways. The authors examine more than 5,000 households over eight years to analyze grocery shopping behavior in terms of how they allocated their budget across brand types and store formats (shopping basket allocation), as well as how much they spend and purchase (shopping basket value). Results indicate that both micro and macroeconomic conditions have pronounced effects on households’ shopping behavior and should be used by retailers and manufacturers to adapt and navigate economic ups and downs.
Featured Speakers: Thomas P. Scholdra and Julian R. K. Wichmann (both of University of Cologne)
Full Journal of Marketing article: https://doi.org/10.1177/00222429211036882
Read the Scholarly Insight for this study here.
