USA | Incisiv and Wynshop released Grocery Doppio’s October 2024 Market Pulse report, “Pumpkin Spice Powers Grocery Profits.”
This month’s survey asked 1,266 digital grocery shoppers and 113 grocery executives for their predictions on seasonal specialty flavours like pumpkin spice, Halloween shopping trends and sales tactics.
Grocers have anticipated an 8.4 percent increase in pumpkin-flavoured products this year compared to 2023.
Four percent of store merchandise has been considered “fall products,” representing an average increase of 13 products/store from last year.
One in eight shoppers purchase at least one seasonal product every autumn. They do so to celebrate tradition (86 percent) due to limited availability (71 percent), to enjoy unique flavours (64 percent), and simply to try something new (53 percent).
Despite economic worries, shoppers were enthusiastic about Halloween. Sixty-one percent of shoppers said they would spend as much or more than last year on Halloween shopping.
Fifty-seven percent of shoppers said inflation had not affected their fall shopping budgets.
While 69 percent of shoppers intend to spend about the same on candy as last year, more than 23 percent intend to up their spending for this Halloween’s festivities.
Grocers have leaned into promotions and deals, as 79 percent of grocers believed shoppers actively searched for promotional deals to guide their purchases.
Sixty-six percent of grocers said they would increase their volume of promotions and deals in Q4.
“Shoppers are drawn to pumpkin-flavoured products by nostalgia, novelty, and scarcity,” said Gaurav Pant, Chief Insights Officer of both Incisiv and Grocery Doppio.
“Grocers can use the so-called ‘pumpkin spice effect’ to generate buzz in store, create novel shopping experiences online, and increase October sales across the board.”
“For grocery retailers, fall is a prime opportunity to boost sales through pumpkin-flavoured and other seasonal products. Shoppers are drawn to these flavours to feel connected with tradition. Because of their limited-time availability, they create a sense of urgency and excitement,” said Charlie Kaplan, Chief Product Officer of Wynshop.
Grocers can tap into this enthusiasm to drive impulse purchases and strengthen customer engagement throughout the season.
More insights here
