CEO: Consumers Adopting ‘Drastic’ Lifestyle Changes, ‘Inflation Diet’

 

Grace Garwood, The Food Institute

Sep 14, 2022

 

With August food prices increasing 11.4% year-over-year, Americans are experiencing a fundamental shift in their everyday patterns, with some even adopting an “inflation diet.” A recent survey by consumer research platform Attest took a closer look at how consumer grocery habits have changed over the past 12-months...

 

KEY HIGHLIGHTS

 

Overall, the survey revealed that anxiety is dictating the grocery list, with nearly half (47%) of Americans sticking to a strict budget when they go to the supermarket.

 

Other consumption shifts include:

 

·         Skimping on food: Forty percent of respondents are buying less food due to rising costs, and that number increased to 52% for those aged 55-64.

·         Decline in overall health: Forty-six percent of consumers are switching to cheaper foods – many of which are associated with lower-quality ingredients and reduced health benefits — while 22% are also buying less fresh fruit and vegetables.

·         Relaxed attitudes toward expiration dates: Forty-six percent of Americans are eating foods past their expiration and ‘use-by’ dates – labels often criticized for being somewhat arbitrary – as consumers exhibit an increasing willingness to make their own judgment calls.

 

“This [behavior] paints a picture of a consumer that isn’t afraid to make drastic lifestyle changes to put food on the table,” said King…

 

TAKEAWAYS FOR BRANDS, RETAILERS ...

 

more, including links 

https://foodinstitute.com/focus/ceo-consumers-adopting-drastic-lifestyle-changes-inflation-diet/