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