Despite Higher Prices, Consumers Still Paying Cold Cash for Ice Cream
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Are high grocery costs making consumers ditch name brands? HighGroceryCosts #NameBrandProducts #SmartShopping #ConsumerTrends High Grocery Costs: What's Happening? 🛒💸 Grocery shopping these days feels like a huge drain on the wallet, doesn't it? With rising grocery costs, consumers are more conscious of where each dollar goes. This significant hike in prices has shifted shopping habits in interesting ways! So, what’s really going on here? The Why Behind the High Costs 💡 Let’s break it down: Inflation: Prices for basics like br... Read more: https://lnkd.in/gGuYZPh9
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Are high grocery costs making consumers ditch name brands? HighGroceryCosts #NameBrandProducts #SmartShopping #ConsumerTrends High Grocery Costs: What's Happening? 🛒💸 Grocery shopping these days feels like a huge drain on the wallet, doesn't it? With rising grocery costs, consumers are more conscious of where each dollar goes. This significant hike in prices has shifted shopping habits in interesting ways! So, what’s really going on here? The Why Behind the High Costs 💡 Let’s break it down: Inflation: Prices for basics like br... Read more: https://lnkd.in/gk6WQ5fR
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Grocery spending, up just 2.7% in March 2024, recorded its slowest growth since September 2022, due to falling food price inflation, which reached its lowest level since January 2022. Despite this, concerns about general inflation have risen, while consumers are also increasingly concerned about the impact of shrinkflation. Read our latest Consumer Spend Report to find out more: https://upl.inc/55un4o #Retail #ConsumerSpending #BigPictureBanking
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Grocery spending, up just 2.7% in March 2024, recorded its slowest growth since September 2022, due to falling food price inflation, which reached its lowest level since January 2022. Despite this, concerns about general inflation have risen, while consumers are also increasingly concerned about the impact of shrinkflation. Read our latest Consumer Spend Report to find out more: https://upl.inc/55un4o #Retail #ConsumerSpending #BigPictureBanking
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Consumer preferences are shifting, and inflation is forcing more thoughtful grocery spending. What does this mean for fresh meat retailers? See the top 3 fresh meat trends impacting retailers in 2023 at https://lnkd.in/gYqr7n-2
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Inflation continues to have a real effect on consumers. One in five shoppers say they're skipping meals to save money, 16% plan to dine at home more and a growing number are avoiding premium, high-end food items, desserts and beauty products. Instead, it's all about the essentials, according to the latest Advantage Solutions Shopper Outlook. Download the free report here --> https://bit.ly/3UuEea0. #Retail #ConsumerTrends #Inflation
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July Foot Traffic trends were soft in the discretionary categories whereas the less discretionary categories were largely resilient, per Placer data. Grocery chains across the board (excluding W.D.) showed an increase in traffic levels, with discount brands showing the largest increases in consumer volume.
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When chocolate is on the chopping block, you know the food affordability crisis is getting serious. Chocolate may be the most popular treat in the world, but as the food affordability crisis continues, U.S. consumers have said they’re willing to cut spending on chocolate, candy, meal kits, alcohol, and beauty supplies in 2024 (per NielsenIQ) if prices continue to rise. NielsenIQ also found that just under a third of Americans (29%) are buying in bulk to reduce the cost per use of consumer packaged goods and “making more calculated purchases,” which have caused food unit sales to decline faster (-2.4%) than equivalent volume (-1.4%) in the past year. How can food companies turn this around? NielsenIQ recommends that food companies “shift pricing and promotion strategies that aim for long-term profitability over short-term gains” and to “closely monitor volume sales and the impact of ongoing inflation,” which has become considerable for people. Per NielsenIQ, “The struggle to put food on the table is widespread, and food bank usage has surged in the past year due to persistently high food prices.” Today, 1 in 7 Americans now rely on food banks (up from 1 in 5 in 2020) and it’s the same in Canada. Per Global News, nearly 2 million Canadians accessed food banks in March 2023—an increase of 32% compared to March 2022 and a 78.5% increase compared to March 2019. In other words, NielsenIQ’s recommendations come down to this: If food companies want to continue dining on sales, it’s probably a good idea to meet people where they are and make food more affordable. #foodcost #foodprices #foodbanks #foodmanufacturing
What’s driving the volume sales decline in the US?
https://nielseniq.com
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Keeping a close eye on the current US inflation trends in retail is crucial for businesses and consumers alike. As prices fluctuate, it's essential to adapt strategies to navigate this dynamic economic landscape. Stay informed and resilient in the face of these challenges! #Inflation #RetailTrends #EconomicInsights"
Shoppers cooking less as inflation eases
supermarketnews.com
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Canadian consumers are increasing their spending at grocery stores as they adjust to rising food prices, reflecting a shift in purchasing behavior and budget allocation. Retailers are responding by offering more value-focused options and promotions to meet changing consumer demands. These trends highlight the importance of understanding market dynamics and customer preferences in the retail sector. Learn more about Canadian consumers and the retail market: https://ow.ly/qS1150Sr3W7 #Retail #CanadianConsumers
Spending Increases at Canadian Grocers as Consumers Adjust to Rising Food Prices [Op-Ed]
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