Low Inflation Affects Consumers’ Plans This Holiday Season | So Good News
Shoppers are facing real challenges paying more to get less on groceries this holiday season.
Market Force surveyed more than 2,000 consumers about their experiences and satisfaction with major retailers across the country.
More than 50% of consumers say rising prices will change how they spend on groceries in 2022, with nearly a third saying rising prices will affect how they spend time with family and friends this holiday season.
Higher Prices Force Consumers to Think More Carefully About Purchases
Many consumers engage in strategies that can be classified as “being intentional” in planning and shopping. Other strategies include meal planning, using coupons, checking sales to save money on bulk purchases, buying unprocessed foods and less meat, or selling antiques or white labels.
Low and Middle Income Families Are the Hardest
According to Phil Doriot, Vice President of Customer Success and Analytics at Market Force, consumers with low incomes (between $25,000 and $75,000) are most likely to change their habits and families in the Southwestern US report that is often affected.
“These families are being forced to change their shopping and eating habits due to the rising cost of things,” says Doriot.
The Holidays Will Be Different This Year
Across the US, 33% of consumers say higher grocery prices will change their grocery shopping and holiday celebrations.
Consumers are coping with higher holiday prices by cutting back on their meals, inviting a few friends and family to a holiday party, or asking guests to bring a side dish to fill a meal or party.
Doriot says the added challenge can have a positive side.
Doriot said: “Experiences, even if they are self-sacrificing, can bring our loved ones together.” The holiday season is a great time to reflect on our most important relationships.
The findings are contained in a market survey, published regularly by Market Force. The upcoming study will also include information on trends such as food delivery and coastal shipping, both of which have grown significantly during the COVID-19 pandemic.
The full study will be published by the end of 2022 and will include the highest quality rankings across the country.
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SOURCE Market Force Information