The sluggish economy is keeping price the preeminent food purchasing criteria for many consumers.

A study by New York-based The Nielsen Co., for instance, found that 78 percent of shoppers look at unit prices to compare products on most or some trips to the supermarket.

The September Nielsen online Homescan survey of 58,000 U.S. households also revealed that 72 percent of respondents access store circulars on most or some trips, and 67 percent use coupons on most or some shopping excursions.

As our cover story on Wegmans Food Markets Inc. illustrates, more retailers are maneuvering to attract those budget-conscious customers. Wegmans is heavily merchandising meat value packs and prepared food meal deals.

Such deals are important as they enable supermarkets to better compete with other grocery outlets and quick service restaurants for consumers seeking convenient and economical meals, notes Sherry Frey, vice president of The Perishables Group, a Chicago-based marketing and consulting firm that focuses on the fresh sectors.

“Retailers can face major potential revenue losses by not bundling lunch and dinner for the convenience channel,” she states. “Five-dollar meals seem to be the magic price offered by the foodservice sector.”

Not only do low-cost prepared meals drive traffic to supermarket delis, but the selections—when high quality—can convert the customers into regular buyers of the premium-priced entrées and side dishes, Fry notes.

“Pricing that encourages trial of restaurant-level food will cause customers to say, ‘I will buy it again,’” she states. “But only if the food is not mediocre.”

To maximize revenues, retailers should market to all buyer segments and not just the “lowest common denominator,” Fry notes.

Many former restaurant patrons, for instance, now are dining at home but still want premium meals, albeit at an attractive price.

“It is important to keep the higher-income groups shopping with you,” Fry adds. “The economy has brought consumers from all segments into the supermarket and even those buying upper-end beef and chicken are seeking value.”