Singapore – Around 61% of consumers in the Asia-Pacific region say they use various money-saving techniques when grocery shopping, and it is expected that more and more consumers in the region will do the same. This is according to the latest data from SaaS technology company Eagle Eye.
According to the report, 57% of the respondents are actively seeking out items for which there is an offer or promotion available, and 47% are much more aware of items on sale or promotion. In addition, 58% are leveraging existing loyalty programs more frequently to save money, and 54% seek out loyalty programs that can offer the most value and discounts.
With such an emphasis on finding and delivering value, it’s unsurprising that grocery store loyalty programs are top of mind for both consumers and retailers. The data also noted the trend of saving money also applies to various activities such as travelling less (54%), eating at home more (50%) and actively seeking out offers and promotions (54%).
Jonathan Reeve, vice president for APAC at Eagle Eye, said, “APAC consumers see grocery loyalty programs as a means to unlock tangible value, prioritising it over status, perks or earn rewards with other brands. It’s clear that if your loyalty program fails to deliver on the value proposition, shoppers will disengage. This is an opportune time for APAC grocery retailers to focus on effective offer delivery and management, tailored promotions integrated directly into their loyalty programs and more relevant and interactive loyalty platform experiences.”
He added, “Now is the perfect time for retailers to invest in capabilities that help them showcase the value of their loyalty programs to current and potential customers and increase existing member engagement. In fact, a staggering 76% of consumers say they have joined new loyalty programs or used their existing memberships more frequently this year.”
