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Monday, February 14, 2011

Is it time to treat smaller spenders like they're a bigger priority?

Today’s newsletter from Phil Lempert (the supermarket guru) suggests that families may be carrying less household inventory—in terms of groceries—than they used to. If it persists, this trend could lead to more frequent trips to the grocery store (or other food supplier) and less money spent on each trip. Click here to read the story.

Implications: If a supermarket offers a loyalty program which benefits only big-ticket spenders, they could be missing the boat. Some of the customers who frequent a store and make only small, incremental purchases could, in fact, represent the bigger overall source of revenue for the store.

Even if you’re not a grocer… are you seeing shifts in the way people buy, stock, store, or use the product or service you sell? Is the person with the fullest cart necessarily your biggest customer… or just the most conspicuous?

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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