Consumers are faced with price inflation at the grocery store this holiday season. Atlanta-based Market Force surveyed more than 2,000 of them about their experience and satisfaction with major grocery brands across the country.
More than 50 percent of consumers say that inflation has changed their spending at the grocery store, with about a third saying that inflation will influence the way they celebrate with family and friends this holiday season.
Many consumers related strategies that could be categorized as “being more intentional” with planning and shopping. Some specific strategies involve increased meal planning, an increased use of coupons, monitoring sales to save money with bulk buying, buying less prepared food and less meat or otherwise trading down to store brands or white label goods.
According to Phil Doriot, Market Force’s VP of customer success and analytics, consumers with lower- or middle-income levels are most likely to have changed their behavior and families in the Southwestern U.S. report being impacted most often.
“These families are being forced to change their shopping and eating habits, because of higher prices,” Doriot said.
Across the U.S., 33 percent of consumers say that higher grocery prices will change their holiday food shopping and holiday celebrations. Consumers are coping with higher prices at the holidays by slimming down their menus, inviting fewer friends and family to holiday festivities or by asking guests to bring dishes.
Doriot says the additional strain may have a positive side.
“A shared experience, even if it is one of sacrifice, has the potential to bring loved ones together,” Doriot said. “The holiday season is a wonderful time to focus on our important relationships.”
The findings are contained in a study of the grocery industry, published by Market Force on a regular basis. The next study will include data on trends such as grocery delivery and curbside pick-up, both of which saw explosive growth during the COVID-19 pandemic.
The full study will be published in late 2022 and will include rankings of top grocery brands across the country.
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