The Recession Hangover

October 06, 2011

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HOW INFLATION IS CHANGING CANADIAN RETAIL

Joint Research from LoyaltyOne and the Retail Council of Canada
 

Canada weathered the 2008-2009 recession suffering fewer negative effects than many other countries. Still, the economy found itself a bit woozy, and now is waking up to something of a hangover: the additional challenge of an inflation rate that has been steadily climbing ever since.

For July 2011, Statistics Canada reported that the year-over-year (YOY) inflation rate stood at 2.7%,compared to the 2.4% at the end of 2010, 1.3% at the end of 2009, and 1.2% at the end of 2008.

Consumer response to increased prices: 80% stock up on sale items, 77% pay closer attention to price, 68% cut back on impulse purchases.

This acceleration has been rapid enough that the extent of its impact, beyond a few staple sectors such as gas and grocery (where the overall impact has been significant), isn’t fully apparent yet. That’s why LoyaltyOne and the Retail Council of Canada (RCC) set out to better understand that impact, by surveying consumers to explore how they are changing their daily decision-making and shopping behaviours. The resulting data illuminates emerging trends that can help retailers as they work to counteract the inflationary hangover, and effectively reach, serve and retain today’s price-conscious consumers.
 

Download the study as it gauges consumers’ perceptions across eight categories: Gas, Grocery, Restaurant, Travel, Home Improvement, Pharmacy, Clothing, and Banking.

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The Recession Hangover

Jul 6, 2018, 11:57 AM
Canada weathered the 2008-2009 recession suffering fewer negative effects than many other countries...
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Publication date : Oct 6, 2011, 00:00 AM

HOW INFLATION IS CHANGING CANADIAN RETAIL

Joint Research from LoyaltyOne and the Retail Council of Canada
 

Canada weathered the 2008-2009 recession suffering fewer negative effects than many other countries. Still, the economy found itself a bit woozy, and now is waking up to something of a hangover: the additional challenge of an inflation rate that has been steadily climbing ever since.

For July 2011, Statistics Canada reported that the year-over-year (YOY) inflation rate stood at 2.7%,compared to the 2.4% at the end of 2010, 1.3% at the end of 2009, and 1.2% at the end of 2008.

Consumer response to increased prices: 80% stock up on sale items, 77% pay closer attention to price, 68% cut back on impulse purchases.

This acceleration has been rapid enough that the extent of its impact, beyond a few staple sectors such as gas and grocery (where the overall impact has been significant), isn’t fully apparent yet. That’s why LoyaltyOne and the Retail Council of Canada (RCC) set out to better understand that impact, by surveying consumers to explore how they are changing their daily decision-making and shopping behaviours. The resulting data illuminates emerging trends that can help retailers as they work to counteract the inflationary hangover, and effectively reach, serve and retain today’s price-conscious consumers.
 

Download the study as it gauges consumers’ perceptions across eight categories: Gas, Grocery, Restaurant, Travel, Home Improvement, Pharmacy, Clothing, and Banking.

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