Grocery Shortage Costs Are Falling to US Consumers — and 64% Are Fed Up, Survey Says
A majority of U.S. shoppers report feeling dissatisfied with the lack of bargain-priced options at grocery stores. A survey conducted by Dunnhumby, a global customer data science company, found that 64% of U.S. consumers are unhappy with how grocery stores are handling the pandemic, compared to 50% in February, reports FoodNavigator-USA.
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Food producers have been dealing with supply shortages, bottlenecks, transportation issues and labor shortages, which are causing food prices to rise. In fact, wholesale inflation rose 8.3% last month from August 2020, according to the Labor Department. To make up for these extra expenses, prices are passed along to consumers. Meat, poultry, fish and eggs are up 5.9% year-over-year, and up 15.7% from prices in August 2019.
A majority of survey respondents were also budget-conscious when grocery shopping, with 66% placing value above quality.
“After living with the pandemic for 20 months, consumers are now twice as concerned about their personal finances as they are about COVID itself. With inflation persisting, and government stimulus’ phased out, the majority of shoppers are now looking for greater value,” said Grant Steadman, president of Dunnhumby North America.
FoodNavigator-USA also noted that shoppers report using various methods to save money, such as stockpiling items on sale (36%), looking online for sales (32%), searching online for coupons (29%) and buying items in bulk (26%).
Shoppers are also wary of where they shop; however, 20% of respondents said that no store currently provides good value for their money.
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“Retailers who are perceived as offering more value, and respond to their customers’ increasing need for this, will earn the loyalty of the new customers they gained during the early phases of the pandemic,” says Steadman, FoodNavigator-USA noted.
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Last updated: September 28, 2021