Catalina: Yogurt, Cereal, Soaps Rise Most in Price From Q1 to Q3
Shopper intelligence firm Catalina has released new data showing which grocery and household categories have spiked in price the most from Q1 to Q3 of this year.
In Catalina’s latest Shopping Basket Index, which compared the same category increases to those in France and Japan, yogurt (+21%), cereal (+20%), hand and bath soap (+19%) and soft drinks and water (+18%) were the categories in the U.S. that increased the most in recent months. Frozen prepared foods, frozen vegetables, coffee, and deodorants all saw double-digit price increases from Q1 to Q3 as well. Compared to its European and Asian counterparts in the data index, inflation was much greater in the U.S. by a wide margin.
“Inflation continues to be a big concern globally this year, with some nations’ economies impacted more than others, largely due to increases in the food and energy sectors thanks to lingering supply chain disruptions caused by the COVID-19 pandemic and the war in Ukraine,” said Sean Murphy, chief data & analytics officer at Catalina. “While inflation rates may vary across borders, shoppers have a universal appreciation for getting the greatest value for their money, which Catalina is well positioned to deliver in partnership with our retail and brand customers."
In the U.S., the Catalina Shopping Basket Index measured a 15% increase in prices compared to the same quarter in 2021. Prices for food enjoyed at home rose 13% over the 12 months ending Sept. 30, 2022, and the food index overall increased 11%. According to Catlina, the aggregate basket average was up 5% from Q1 2022.
“Insights about traditionally price sensitive and value-seeking shoppers apply to more consumers now,” added Murphy. “This is an opportunity for brands to fine-tune their omni-channel approach to deliver relevant offers and valuable incentives to help shoppers make the most of their dollars in these inflationary times.”
To drive sales lift and build loyalty, Catalina suggests retailers “build omni-channel campaigns that include multiple digital channels and in-store point-of-sale offers, maximize every dollar by developing targeted shopper cohorts, and use a real-time feedback loop to measure and continuously adjust campaign performance to stretch marketing budgets farther.”