Consumers plan to compare per-ounce prices
April 1, 2011
Comparing unit prices among competing packages is one of the strategies consumers will use to combat rising food prices, according to a survey byCoupons.com.The survey, done by Harris Interactive, reported that 71% of respondents plan to compare prices per ounce or other unit of weight or volume-information that many food retailers post on store shelves. This could have an impact on companies that have engaged in package “downsizing,” or putting less product in a package while maintaining prices. Women are more likely than men to do this kind of unit comparison (75% vs. 67%), and college-educated consumers are more likely than less-educated consumers (83% vs. 66%). The survey mentioned other savings strategies, including increased use of coupons (chosen by 72% of respondents), shopping at discount stores (66%), stocking up on low-priced items (64%) and buying in bulk (57%).