Temporal and financial risk assessments: How time and money constrain shopper behavior and influence purchase solutions

• We examine resource constraints for shoppers of CPG goods.
• All shoppers perceive themselves to be constrained by both finances and time.
• Pricing and convenience no longer are appropriate shopper segmentation variables.
• Shoppers and consumers are unique due to constraints on shopping purchase solutions.
• Time and money must be spent on every purchase sets shopper floor expectations.

PurposeThe purpose of this paper is to better understand the constraints that make shopper behavior unique from consumers and how those constraints manifest themselves in retail purchase solutions.Design/methodology/approachThis study utilized value laddering and phenomenological research methodologies to explore the data gathered from 39 interviews of male and female grocery shoppers.FindingsThis research examines the perceived constraints on shopper resources. The data reveal that all shoppers perceive themselves to be constrained by both finances and time. These findings hold across all income, age, and employment strata. As a result, price and convenience no longer function as segmentation tools. Instead, pricing and convenience become thresholds setting shopper “floor” expectations for retailers, service providers and brands.Research limitations/implicationsThis study was limited to grocery shoppers largely located in the southern US. Future research could expand on the variety of product categories and conditions explored, along with the cultural diversity of the participants.Practical implicationsShoppers' broader view of purchase relationships reduces the importance of transactional savings. Shopper consideration of total market basket value, allows for more focus on services and relationships to drive shopper value. Shopper constraints can result in purchase outcomes different than what consumer research would indicate.Originality/valueThis research is the first to examine elements which may constrain shoppers, particularly temporal and financial risk assessments, and how they impact shopper purchase solutions.