Symphony Consulting has completed an initial analysis of shopper behavior since January 1 when the payroll tax increased.
February 11/Chicago/Business Wire -- For a consumer with household income of $40,000, the 2% increase in the payroll tax represents $800 in reduced spending power per year. This can be the difference between shopping at a lower-cost dollar store versus a mass merchandiser, increasing purchases of a store brand versus a national brand, or suppressing an impulse to pick up a snack on the spur of the moment while shopping in the store.
Symphony Consulting, a business unit of SymphonyIRI Group, Inc., has completed an initial analysis of shopper behavior since January 1 when the payroll tax increased. The analysis focuses on the impact of the payroll tax increase on food and beverage consumption, including its impact on key dimensions, such as type of stores shopped, type of brands bought (store brands versus national brands), and the effect on various segments and categories.