VideoMining Announces Results from Nationwide Value/Dollar Shopper Study
VideoMining Corp., the leading provider of in-store behavior analytics, announced the release of the findings of a new study from its Value/Dollar Shopper Insights (VSI) program. Among its many findings, the study showed that roughly 90% of Value/Dollar Store customers plan to continue shopping the channel, even if their current economic situation improves.
This result reflects increased loyalty in the channel, once thought of as a clearinghouse for unsold products but steadily becoming a critical retail battleground for manufacturers with its own shopper base. The study also revealed greater frequency among shoppers, as 54% indicated that they increased shopping in the channel over the past year, twice that of the next highest channel.
These findings are the result of a nationwide survey, conducted by VideoMining late last year, of 2,500 nationwide Value and Dollar shoppers on all aspects of their shopping trips. Collectively, the results of the study are available in a report that offers an overview of shopper behaviors and points to numerous areas for growth and improvement in the channel, including information on specific retailers like Family Dollar, Dollar General, and Dollar Tree.
“We’re excited by the findings from this year’s study,” indicated Jeff Friedlaender, VideoMining’s President of Shopper Research. “It shows the continued growth of this key class of trade, and takes a deep look at the factors that are affecting conversion for these cost-conscious shoppers.”
The study also uncovered other intriguing findings about the way shoppers approach the channel. For instance, 80% of all Value/Dollar Store shoppers said they planned their trips in advance. Despite the destination status of the channel, shoppers remain open-minded, as more than half (51%) made their final brand buying decisions in the store.
The report marks VideoMining’s initial industry-wide offering of its Value/Dollar Shopper Insights (VSI) program, which ultimately is expected to include a nationwide, behavioral MegaStudy of millions of in-store shoppers, as it has been released in the Grocery and Convenience channels. Currently, VideoMining offers custom in-store behavior testing of Value and Dollar shoppers, which can be combined with findings from the study for a complete view of channel shoppers.
For highlights from the VSI study, consult VSI at a Glance, our one-page summary of findings from the study. For additional information on the report or to order it, please contact Jeff Friedlaender at firstname.lastname@example.org or (914) 468-0808.