Economic concerns among shoppers will drive the grocery industry for decades to come

By: Trademagazin editor Date: 2023. 07. 13. 09:02

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Ongoing concern among consumers about the state of the economy and their personal finances is likely to persist as a top driver of grocery-shopping behavior for the next 30 years, according to research released late June by data analytics firm Dunnhumby.

The data, collected between 2017 and 2022, revealed that price is a key consideration for most people when they buy groceries, regardless of how much money they make. Other factors, like health and sustainability, compete with cost as a top source of stress only for shoppers whose incomes top $150,000, Dunnhumby found in producing the study, “Grocery 2053: A Data-Driven Gaze into The Future.”

Lidl, Food 4 Less, Aldi, Costco, Kroger-owned Fry’s, Amazon, BJ’s Wholesale Club, H-E-B, Shoprite and WinCo are the best-positioned grocery chains to benefit from the trend, known as fiscal conservatism, Dunnhumby said.

The findings indicate that grocers will need to continue running and implementing the value-focused strategies that they’ve employed amid record-high inflation for more than a year now.

Grocery Dive