As Inflation Rises, Consumers and Food Companies Pivot

 

Marcy Kreiter, The Food Institute

May 5, 2022

 

It’s been four decades since consumers were slapped with a double whammy of rapidly rising food and gas prices. In the 1970s and early 1980s consumers coped by switching to generics, changing their diets, and searching out the cheapest gas station.

 

Today, however, generics and private brands are mainstream, consumers dabble in various diets, and the difference in gas prices from station to station is minimal.

 

So, what’s a consumer to do?

 

“With the rise in inflation, we are noticing consumers being more purposeful with their spending and purchasing decisions,” Stephanie Spanarkel, director of trend practice at Jump Rope Innovation, told The Food Institute. “Specifically, we have seen a trend of consumers consistently wanting to spend less on products but also wanting and expecting more out of the products they do spend money on.”

 

SOME CONSUMERS STRUGGLING AMID INFLATION ...

 

PRICE MAKING AN IMPACT ...

 

more, including links

https://foodinstitute.com/focus/as-inflation-rises-consumers-and-food-companies-pivot/