Provoke Insights’ Carly Fink and Jordin DeSenzo wrote about factors that drive consumers to plan their produce purchases versus making impulse buys in a recent article for Produce Business. They highlight how understanding these behaviors, especially in the context of rising inflation, can help produce brands and retailers better target their marketing strategies through market research.

• Produce brands face two types of customers: meticulous planners and impulse shoppers. Understanding the balance between these groups is crucial for effective marketing strategies, especially in the context of rising inflation and economic challenges.
• Inflation significantly affects grocery shopping, with 85% of shoppers noticing price hikes. 
• Most Americans purchase produce weekly, with supermarkets being the preferred location. While pre-planned purchases dominate, impulse buys account for only 15% of produce purchases.
• To boost impulse buys, supermarkets should enhance in-store advertising, strategically position pre-cut produce in high-traffic areas, and highlight the nutritional benefits of produce. Utilizing TV and social media platforms for promotions can also capture the attention of weekly produce shoppers.

Business Insider explores the frustration caused by dynamic pricing in light of inflation, leaving consumers uneasy about fluctuating costs across different sectors. Provoke Insight’s Carly Fink points out the challenge of introducing new pricing strategies during periods of heightened price sensitivity and other insights. 

• Rising inflation and tech-enabled dynamic pricing make consumers increasingly uneasy about fluctuating costs.
• There is a challenge to introducing new pricing strategies during periods of heightened price sensitivity.
• Americans feel prince fatigue as they navigate unpredictable prices across various sectors like groceries and travel.
• Despite efforts by businesses to optimize pricing, consumers are longing for stability in their purchasing decisions amidst economic uncertainty.

Despite higher menu costs, the Radio Advertising Bureau recently reported a rise in dining out and takeout nationwide. The article cited Provoke Insight’s seventh wave of research, which states that radio listeners are identified as key patrons who contribute significantly to dining expenditures and tend to tip generously across various dining settings.

• Sales at drinking and dining establishments have surged despite rising menu costs, indicating a strong preference for dining out or taking out food.
• A new trend, ‘tipflation,’ has emerged, where consumers feel increasingly pressured to tip more, influenced by the growing number of tipping prompts at the point of purchase. 
• Radio listeners, a significant portion of dining patrons, tend to spend more on meals, even amidst rising menu prices. They also tip more frequently across various dining establishments compared to non-listeners.
• Radio advertising effectively reaches patrons of all types of dining establishments, from quick-serve to fine dining, driving both foot traffic and online engagement for restaurants.

Fast Company’s interview with President Carly Fink was cited in MSN’s article about digital shelf price labels (DSLs). Walmart plans to introduce digital shelf price labels (DSLs) in 2,300 US stores by 2026 to streamline pricing updates and improve efficiency. Implementing dynamic pricing during the rollout of DSLs has been a controversial topic among marketers. 

• Walmart’s rollout of digital shelf price labels (DSLs) aims to streamline operations and improve customer service. According to a press release, the DSLs will allow price updates with “a few clicks” instead of days of work.
• DSLs introduce features like “Stock to Light” and “Pick to Light,” which enhance efficiency by aiding in accurately restocking and fulfilling online orders.
• Carly Fink from Provoke Insights highlighted the potential benefits of dynamic pricing with DSLs, suggesting it could optimize pricing strategies based on market demand, as reported by Fast Company.
• Despite concerns, Walmart clarified that its DSL system currently does not support dynamic pricing and has no plans to introduce such functionality.