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RedPlum Poll Reveals Rising Prices Lead to $20-50 Increased Weekly Spend

Thursday, April 07, 2011

Press release from the issuing company

Livonia , Mich. - RedPlum, a leading provider of deals and savings on brands consumers want most, recognizes shoppers' increased need to save to offset rising food and gas prices and offers savings strategies and coupons to do just that.

In a recent RedPlum poll of nearly 500 of its community of savers on Facebook, 76% revealed that their grocery bills have increased up to $50 weekly; 41% have seen a weekly increase of $20 to $50.

Forty-nine percent of the respondents said they are "somewhat confident in their ability to deal with rising gas and grocery prices, but are still learning." Nearly all respondents acknowledged the need to save when it comes to their grocery spend and what is in their control in light of the increased prices they cannot control.

How are they doing it? According to the RedPlum poll, 61% are buying less expensive store brands and 28% are buying food in bulk, especially when it comes to items for lunches. Also impacted by rising gas prices, 71% of RedPlum respondents said they are streamlining their shopping trips to make them more efficient.

Similarly, based on a recent Quick Poll of consumers, Phil Lempert – the Supermarket Guru – indicates that 93% of respondents have seen prices rise on items they buy in the grocery store and are employing tactics to save money:

- 84% are using coupons;
- 84% are eating out less often to save in restaurants; when dining out, 52% redeem coupons to save money; and
- 76% are looking in newspapers for sales.

If food prices continue to increase in 2011, 68% said they would seek out less expensive retailers including dollar stores, clubs and supercenters and 60% would cut back further on other areas of household spending.

"While so many people now include saving as part of their shopping routine, our recent poll indicates that shoppers feel there is still more to learn to achieve an even greater savings," said Lisa Reynolds, RedPlum 's Mom Saver in Chief . "Rising prices at the supermarket and at the pump are likely driving them to become more strategic shoppers and seek out deals wherever they can. In fact, our RedPlum Purse String Study in 2010, revealed that 56% are using their savings for basic necessities."

Reynolds, a savings expert, encourages shoppers to never to buy anything unless it is on sale or available with a coupon. She says that everyone can save; it isn't time-consuming; and provides a great deal of satisfaction and a feeling of being in control. Reynolds suggests:

- Spend 20 minutes a week seeking out deals and save more than $1,000 a year; 81% said they save up to $50 a week, according to the RedPlum Purse String Study of 16,000 shoppers;

- With today's rising gas prices, you wouldn't pass up saving $1.46 (2010 CPG average face value) on a gallon of gas, why pass up such a savings per item in the grocery store?;

- Consider shopping at stores with reward cards or partnerships where you receive a deeper discount;

- Shop one store strategically to save on gas; do not make multiple trips.

- Be organized. Make a shopping list matching your coupons to store circulars. Seek out coupons online and in print and look for stores that offer double coupons. According to the 2010 RedPlum Purse String Study, 80% spent up to three hours looking for coupons, deals and savings from all sources.

 

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