By Tom Polanski, EVP, eBrand Media and eBrand Interactive

And why not, I ask you? Extraordinary times require extraordinary actions. It’s clear that people are eating out less frequently, maybe its worth testing to determine whether offering a couple of top quality steaks will prove to be a more attractive, and unique, incentive than what we’re ordinarily offered by merchants.  

When going fishing, remember to bring the fish their favorite food. 

According to the results of nationwide research from retail analytics firm Precima, groceries are the top item on which U.S. consumers are spending their savings from lower gas prices, ahead of putting the money in savings, holiday gift buying and paying off credit cards. 

Of the 3,013 consumers, nationally representative of U.S. grocery shoppers, who were asked to choose from a list of ways they use money saved on gas:

48% said they’re spending it on groceries
42% said saving
37% holiday gift buying
30% paying off credit cards
10% entertainment
14% said other

The gas-to-groceries switch is even higher in certain key sectors. Among those survey respondents who said they’ve suffered a direct financial loss during the recession, 55% said they’re spending gas savings on groceries, and for those whose annual income is under $35,000 the number is 59%.

Conversely, 34% of retirees said they’re spending gas savings on groceries. The number fell to 29% for those whose annual income exceeds $100,000.

Brian Ross, general manager of Precima, says “… this is a silver lining for grocers… this trend builds on… earlier research that showed that consumers are now eating more at home.”

In another significant finding from the survey, nearly two-thirds of respondents said the recession is changing the way they plan their grocery trips:

27% of consumers said they can no longer afford to stock up on food and now buy only what they need week to week
35% said they stock up more than they used to, but only when items are on sale
Of the 65% of respondents who said their stocking habits have changed:

5% said they stock up more
54% said they stock up only when items are on sale
41% no longer stock up at all
Queried about the grocery category most likely to make them switch supermarkets to get a better price, respondents said:
76% fresh produce
72% meat and seafood
71% dairy
62% paper products
55% canned foods
53% snacks-beverage-candy
41% convenience foods
39% deli
15% baby products