Retail data firm 84.51° has shared new insights into how customers are shopping in the current inflationary climate.
The Consumer Digest: August report found that concern for finances is at an all-time high, and that many consumers are shopping less frequently, buying fewer items, and switching to lower priced brands, including private labels.
While concern about COVID-19 is waning, shoppers are still concerned about pandemic-related inflation for grocery and household items. According to 84.51°, 48% of consumers are feeling uncomfortable with their finances in August, the highest percentage the firm has polled since October of 2021. 38% of consumers say they are shopping less frequently than they normally do for groceries as a result of high prices, while 43% say they are purchasing fewer items during their grocery trips.