| Consumer Trends
Grocery Prices Straining Household Budgets, Decision Analyst Survey Shows
Arlington, Texas – More than half of American households say grocery prices are straining their budgets, according to a nationwide survey by marketing research company Decision Analyst Inc. The firm, based in Dallas/Fort Worth, Texas, recently conducted a study titled “Consumer Foresight: Beyond The Pandemic, Into Economic Uncertainty.” Among the study's areas of focus was the effect of inflated grocery prices on consumers.
Asked how they were dealing with the higher prices, 57% of respondents said they were buying less food, 52% said they were buying less expensive store brands, and 48% said they were buying less expensive national brands. 37% of respondents said they were shopping at less expensive grocery stores.
When asked about specific shopping strategies, 44% said they used a store's coupons and 38% said they shopped at multiple stores to compare the best deals. 32% of respondents said they used manufacturers' coupons, and 36% said they used a loyalty program to get discounted prices.
“In 2022, inflation hit American consumers in a way most had never experienced,” said Felicia Rogers, Executive Vice President at Decision Analyst. “Rising costs had a notable impact on 9 in 10 households. Not only were people forced to take a hard look at their discretionary spending, but about half of households in the U.S. had to make hard decisions about essentials like groceries, transportation, and healthcare. There’s no question 2022 was a tough year. All eyes will, no doubt, be on the economy and how it impacts consumer spending this year.”
Methodology
“Consumer Foresight: Beyond The Pandemic, Into Economic Uncertainty” was a nationwide survey conducted six times in 2022, from January to November. Every other month it surveyed about 1,000 consumers balanced by gender, age, and geography. Authoring the study was Felicia Rogers, Executive Vice President of Decision Analyst, Inc. She can be reached at frogers@decisionanalyst.com, 1-800-262-5974 or 1-817-640-6166.
About Decision Analyst
Decision Analyst (www.decisionanalyst.com) is a global marketing research and analytical consulting firm specializing in strategy research, new product development, advertising testing, and advanced modeling for marketing decision optimization. For over 40 years, the firm has delivered competitive advantage to clients throughout the world in consumer packaged goods, telecommunications, retail, technology, medical, and automotive industries.
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