Survey: Rising food prices drive shoppers to new channels

Survey: Rising meals costs drive customers to new channels



Buyers are seeing their weekly grocery payments rise below stress from inflation, however as a substitute of shopping for fewer objects, they need to lower your expenses by trying to find higher offers throughout a number of channels—corresponding to retail supermarkets, membership shops, mass retailers, and on-line buying—in line with a survey from FMI – The Meals Trade Affiliation.

The stress is actual: in February, customers spent a mean of $164 per week on groceries, up from $148 in each October and February of 2022, in line with the FMI survey, which was carried out by The Hartman Group. As well as, 68% of customers report spending extra on groceries than one 12 months in the past; 7% say they spend much less. And 55% of these polled are involved with rising costs at eating places, up from 50% in October.

Amongst customers who’re involved about these rising meals costs, solely 32% of customers in February reported shopping for fewer objects as a technique to deal with rising costs, down from 41% in October. As a substitute, hungry customers are buying at a number of channels, the report mentioned.

“Our nationwide survey reveals persistent client concern about meals and beverage costs, because the weekly spend for groceries elevated in late 2022 and early in 2023,” Leslie G. Sarasin, president and CEO of FMI, mentioned in a launch. “To handle greater costs, customers are visiting extra shops and in search of offers to stretch their {dollars} however are actually much less more likely to in the reduction of on the variety of objects bought in contrast to 6 months or a 12 months in the past. This is a chance for our trade to proceed connecting with customers on food-inflation-mitigating options.”

Meals worth issues minimize throughout shopper demographics, however Boomers are extra fearful about rising meals costs than another group, with 80% exhibiting concern in February 2023 versus 69% in October 2022. Millennials polled shut behind with 76% saying they’re involved, 5% a couple of 12 months in the past.

 

 

 

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