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How Shoppers Really Decide: Value, Sensory Shopping, and AI’s Limits with Steve Markenson
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In this episode of The Curiosity Current, hosts Molly and Stephanie sit down with Steve Markenson, Vice President of Research & Insights at FMI – The Food Industry Association and President at WBA Research, to explore how broad, industry-wide research shapes the trillion-dollar food retail ecosystem. With more than two decades in market research, Steve explains how FMI connects data, policy, and practice to help the entire food industry make smarter decisions. He breaks down FMI’s ACE model (Advocate, Collaborate, Educate) and shows how research guides everything from SNAP benefits and tariffs to consumer trends and labeling standards. Through the Value Matrix, Steve reframes value as a balance of quality, relevance, experience, and convenience, helping brands see why shoppers’ trade-offs are rarely irrational. The discussion turns to the role of technology and AI in the research process. Steve shares why AI can improve speed but not replace the curiosity and empathy that define good insight. He calls it the “paintbrush,” reminding us that real understanding still comes from people. For insight leaders and researchers, this episode is a vivid look at how data, discipline, and human judgment come together to feed an entire industry.
What You’ll Learn:
- How industry-wide research informs food policy, retail operations, and consumer education.
- Why value today is defined by quality, relevance, experience, and convenience, not just price.
- How FMI’s ACE model drives advocacy and insight across the supply chain.
- Why 90% of grocery shoppers still buy in-store and how sensory shopping sustains retail loyalty.
- What “AI is the paintbrush, people are the painters” means for the next era of insights.
- How life stage often predicts purchase behavior better than generational labels.
- How to balance speed and rigor when delivering decision-ready research.
- The importance of tracing the path to purchase, from social media to shelf.
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Episode Resources:
- Steve Markenson on LinkedIn
- FMI- The Food Industry Association Website
- Stephanie Vance on LinkedIn
- Molly Strawn-Carreño on LinkedIn
- The Curiosity Current: A Market Research Podcast on Apple Podcasts
- The Curiosity Current: A Market Research Podcast on Spotify
- The Curiosity Current: A Market Research Podcast on YouTube
The Curiosity Current: A Market Research Podcast is handcrafted by our friends over at: fame.so
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