U.S. consumers are increasingly concerned about increases in grocery prices, even though their confidence in the economy and in their own personal financial situation have been improving, according to a report from data analytics firm dunnhumby.
The report, which surveyed 48,449 respondents online in 22 countries, found that in the U.S., 43 percent of consumers said they were paying more for food than they were before the pandemic, compared with 24 percent who said they were paying less. As a result, 80 percent are taking at least one action to seek value, with the most popular action being to shop at stores with everyday low prices (52 percent). They are also searching online for sales and coupons, buying larger pack sizes (both at 34 percent), stocking up on products that are on sale and buying some products only when they are on sale (both at 36 percent).
The report also highlighted some trends that may be favorable to specialty food retailers and suppliers, however, Eric Karlson, director of strategy and insights at dunnhumby, told SFA News Daily.
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