Prices above the consumer stimulus threshold: This is how consumer habits have changed

By: Trademagazin Date: 2023. 12. 13. 12:55

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The increase in food prices in many product groups has reached the stimulus threshold after which consumers change their shopping habits. It is an interesting fact that, in addition to change, brand loyalty is also important for consumers in the case of products they trust.

Az elégedett vásárló minden retailer legfőbb célja és álma

According to a NielsenIQ survey, food prices can rise by an average of 40 percent before consumers switch to other products or buy less. Apparently, the price increase has already exceeded this level in the case of several product groups in Hungarian grocery stores, so it is expected that many people will have to tighten their belts and be forced to change their previous consumption habits.

“One thing is for sure, domestic purchasing power is finite, and besides that, food prices have risen the most in Hungary in the European Union, and the prices of vital, basic foods – such as milk and bread – have also increased drastically. The costs of consumption have increased worldwide, and customers adapting to inflationary pressures are adapting their habits accordingly: more and more people are choosing to cook at home, they are becoming more conscious of avoiding waste, looking for deals and overall, in response to the crisis, they are buying less and being more responsible when it comes to food consumption “

– explained the changes in customer habits by István Monori, brand manager of König-Units Kft., which has been distributing Hulala plant-based foam sheets for more than twenty years.