Tighter Budgets Push Grocery Shoppers Online

AI summary of the source article

According to a PYMNTS Intelligence survey of 2,108 U.S. adults, financial strain is altering consumer shopping and payment habits. Consumers facing high financial stress were more likely to buy groceries online, at 16% compared to 10% for low-stress consumers, and spent higher average amounts on both grocery and retail transactions. Stressed shoppers also concentrated their spending at value retailers, with 56% choosing Walmart for their latest online grocery order. In payment methods, 21% of high-stress consumers used a digital wallet for grocery purchases and 28% for retail, compared to 8% and 11% among low-stress consumers.

Why it matters

The shift toward online grocery channels and digital wallets among financially stressed shoppers highlights an opportunity for merchants and payment providers to offer spending controls and installment payment tools.

Key facts

• Sixteen percent of high-stress consumers made their latest grocery purchase online, compared with 10% of low-stress consumers.
• High-stress consumers spent an average of $109 on their latest grocery purchase and $111 on retail, versus $95 and $88 among low-stress consumers.
• Digital wallet adoption among high-stress shoppers reached 21% for groceries and 28% for retail, compared to 8% and 11% among low-stress shoppers.