{"id":13262,"date":"2023-08-08T15:06:12","date_gmt":"2023-08-08T15:06:12","guid":{"rendered":"https:\/\/frogmi.com\/index.php\/how-retailers-can-turn-inflation-into-opportunity\/"},"modified":"2025-12-16T19:43:30","modified_gmt":"2025-12-16T19:43:30","slug":"how-retailers-can-turn-inflation-into-opportunity","status":"publish","type":"post","link":"https:\/\/frogmi.com\/en\/blog\/how-retailers-can-turn-inflation-into-opportunity\/","title":{"rendered":"How Retailers Can Turn Inflation into Opportunity \u2192<\/span>"},"content":{"rendered":"\r\n

Source:<\/span>https:\/\/www.retailtouchpoints.com<\/span><\/a> In an environment where inflation still remains stubbornly high, consumers continue to be more price-sensitive than ever.<\/span> Massive supply chain disruptions and higher materials costs in the early days of the pandemic forced many retailers to raise their prices and many consumers to adapt their shopping habits. Three years later, even though life has seemingly returned \u201cback to normal,\u201d we\u2019re still seeing the residual effects of these shifts.<\/span> Today, consumers are shopping smarter and looking for more ways to save on the products they love, according to a recent RetailMeNot survey \u2014 a Ziff Davis Shopping brand \u2014 on the latest retail and shopping trends. The survey found price is taking precedence over loyalty, as 71% of consumers now make purchase decisions based on available deals.<\/span> As we look to another year of shopping and spending, retailers can adopt a range of strategies to keep current customers loyal, attract new ones and better meet all their needs even in these challenging economic times.<\/span><\/p>\r\n

\u2018Spend Less, Save More\u2019 is the Theme for Consumers This Year<\/b><\/h3>\r\n

With inflation still hovering at just under 5%, more consumers plan to curb their discretionary spending. This year, 47% say they will cut back on spending, compared to 40% in 2022. Personal and streaming services, music and fitness are the categories likely to see some of this pullback.<\/span> Though more consumers say it\u2019s financially harder to sustain their household, they aren\u2019t entirely willing to give up on their needs. Instead, they\u2019re adjusting their shopping habits and looking for alternative ways to save. Experimenting with generic brands, using coupons and taking advantage of rewards and loyalty programs are just some of the methods they\u2019re using to keep more money in their pockets. In particular, consumers are searching for incentives such as:<\/span><\/p>\r\n

    \r\n
  • Free shipping:<\/span> 67%<\/b><\/li>\r\n
  • Digital Coupons:<\/span> 43%<\/b><\/li>\r\n
  • Loyalty Points:<\/span> 42%<\/b><\/li>\r\n
  • Cash Back Program:<\/span> 38%<\/b><\/li>\r\n
  • Price Matching:<\/span> 31%<\/b><\/li>\r\n
  • Retailer or retailer-specific apps:<\/span> 22%<\/b><\/li>\r\n<\/ul>\r\n

    But as consumers hunt for deals, they\u2019re also subconsciously always shopping, which means retailers may have even more opportunities to engage them at different stages of the funnel. With the right tactics and strategies, retailers can win the business \u2014 and potentially, loyalty \u2014 of price-conscious shoppers.<\/span> How Retailers can Unlock New Opportunities<\/b> As higher prices reshape consumer shopping patterns, smart retailers can do several things to adjust and give consumers more reasons to buy with them, including:<\/span> Consider consumers\u2019 all-in costs.<\/b> The upfront cost of a product doesn\u2019t just include the actual price on the label; consumers also have to factor in shipping costs, taxes and other fees.<\/span> To help reduce some of these costs, retailers should offer incentives such as free shipping, discount codes, cash back offers and loyalty program rewards. Retailers should consider offering these deals as exclusive discounts for customers who enroll in their loyalty program or meet certain purchasing thresholds, such as those who make at least a $50 purchase. They also can incentivize shoppers with a discount on a future purchase, boosting the likelihood they\u2019ll shop with them more than once.<\/span> Guide the shopper journey.<\/b> Consumers are inundated with marketing messages, which can make it more overwhelming to make a carefully considered buying decision.<\/span> They need expert advice to ensure their hard-earned money isn\u2019t wasted. Retailers can fill this gap by doing more than just selling \u2014 they also can give consumers valuable information to help them make an informed buying decision.<\/span> Engaging content or gift guides can direct shoppers toward the best deals and even help them discover new products. Expert reviews and expanding influencer marketing also can be effective to engage consumers at the top of the funnel and increase their awareness of certain products they may not have previously considered.<\/span> Beyond price, retailers can offer more value to consumers in several ways. Educating shoppers is one of them. Adopting this approach may foster greater trust and loyalty that ultimately drives greater customer lifetime value.<\/span> Nurture brand exploration.<\/b> Our survey found that promotions spur more than half of shoppers to either try new brands or more expensive brands.<\/span> With this in mind, retailers should craft compelling promotions and offers that not only provide savings but also serve as a gateway for consumers to discover and experience new brands.<\/span> Retailers can use digital channels for this purpose. Consumers are now embracing social shopping and are more likely to use Facebook for these purchases, followed by YouTube, Instagram and then Pinterest. Retailers can capitalize on this change in behavior by deploying targeted social promotions and offers that encourage shopper substitution. For example, flash deals, \u201cTry Now, Pay Later\u201d options, bundles and value packs all could nudge price-conscious shoppers to potentially replace a product staple in their shopping carts with a similar, though more budget-friendly brand.<\/span> Tap into first-party data.<\/b> Retailers should lean on first-party data to support all these marketing efforts. Whether it\u2019s from their direct-to-consumer (D2C) site, social media channels, subscription or loyalty programs, first-party data is rich with insights retailers can use to push out triggered, automated promotional messages to acquire, engage and convert users on- and off-platform. Leveraging this data also can reduce customer acquisition costs, and potentially customer churn, boosting marketing ROI and conversion rates and accelerating the sales cycle in the process.<\/span> As companies target price-sensitive consumers, they also must be aware of their own costs to do so. Employing a data-driven approach can make their marketing campaigns more impactful and effective.<\/span> Capturing Shoppers\u2019 Attention Amid Inflation<\/b> Rising costs are compelling consumers to explore new ways to save, whether it\u2019s prioritizing free shipping, shopping with retailers that offer price matching or taking the time to clip coupons.<\/span> In these uncertain economic times, savvy retailers will adapt their marketing strategies to give these savvy, budget-conscious shoppers exactly what they\u2019re looking for \u2014 quality products at a reasonable price.<\/span> \u00a0<\/p>\r\n","protected":false},"excerpt":{"rendered":"

    In an environment where inflation still remains stubbornly high, consumers continue to be more price-sensitive than ever…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_focuskw":"","_yoast_wpseo_title":"","_yoast_wpseo_metadesc":"","post_audio":"","_pv_blog_destacado":"","footnotes":""},"categories":[],"tags":[125],"class_list":["post-13262","post","type-post","status-publish","format-standard","hentry","tag-retail"],"acf":[],"yoast_head":"\nHow Retailers Can Turn Inflation into Opportunity - Frogmi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/frogmi.com\/en\/blog\/how-retailers-can-turn-inflation-into-opportunity\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Retailers Can Turn Inflation into Opportunity\" \/>\n<meta property=\"og:description\" content=\"In an environment where inflation still remains stubbornly high, consumers continue to be more price-sensitive than ever...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/frogmi.com\/en\/blog\/how-retailers-can-turn-inflation-into-opportunity\/\" \/>\n<meta property=\"og:site_name\" content=\"Frogmi\" \/>\n<meta property=\"article:published_time\" content=\"2023-08-08T15:06:12+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T19:43:30+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@marketing-admin\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/frogmi.com\/en\/blog\/how-retailers-can-turn-inflation-into-opportunity\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/frogmi.com\/en\/blog\/how-retailers-can-turn-inflation-into-opportunity\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/frogmi.com\/en\/#\/schema\/person\/bb9267f3e597947a2c8d2333d75a349b\"},\"headline\":\"How Retailers Can Turn Inflation into Opportunity \u2192\",\"datePublished\":\"2023-08-08T15:06:12+00:00\",\"dateModified\":\"2025-12-16T19:43:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/frogmi.com\/en\/blog\/how-retailers-can-turn-inflation-into-opportunity\/\"},\"wordCount\":970,\"commentCount\":0,\"keywords\":[\"Retail\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/frogmi.com\/en\/blog\/how-retailers-can-turn-inflation-into-opportunity\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/frogmi.com\/en\/blog\/how-retailers-can-turn-inflation-into-opportunity\/\",\"url\":\"https:\/\/frogmi.com\/en\/blog\/how-retailers-can-turn-inflation-into-opportunity\/\",\"name\":\"How Retailers Can Turn Inflation into Opportunity - 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