Doing well by doing good' has taken on a whole new meaning amid the current cost of living challenges facing so many consumers. A recent Ibotta survey showed 75 percent of consumers agree that the economy has directly impacted their spending habits on essentials such as groceries, and price is the deciding factor for almost two thirds (64 percent) of shoppers.

Consumers report that primary motivations for saving on groceries stem from sheer necessity including to “offset price increases,” “to get by,” “to feel financially secure,” and to follow a “strict budget. The overall sentiment underlines a pressing ‘need’ rather than a ‘nice-to-have', and it's an opportunity for businesses to meet the moment. 

Shoppers are turning to various methods to counter these rising costs, with digital offers and cash back being the primary means of doing so. Brands and retailers can help ease this financial burden and strengthen customer relationships by cutting them in on the deal. Companies should not wait for the proverbial storm to pass, because consumers are dealing with these pressures today. Those that put the greater good before greater profit will not only weather the storm, but come out stronger on the other side, forging a path to enduring business success.

EMPOWERING RETAIL WORKERS

Empowering Retail Workers