Vast Majority of Shoppers Concerned About Food Prices, Many Switching to Store Brands

FMI- The Food Association has shared a new report that details the current grocery market, showing that the vast majority of consumers are concerned about food prices, with many switching to own brands because of it.

First covered by Store Brands’ sister publication Progressive Grocer, Washington, D.C.-based FMI reported “U.S. Grocery Shopper Trends 2022 - Navigating a Hybrid World” that 86% of shoppers that are concerned about rising food prices and re changing how they shop as a result. Some 51% are looking for more deals, 35% are switching to store brands, 21% are buying less fresh meat and seafood and 14% are buying less fresh produce.

“Given the ongoing volatility in energy and commodity costs, it might take a while for the price of food to come down,” said Heather Garlich, SVP of communications, marketing and consumer/community affairs at FMI, during a webinar detailing the report’s findings.

Grocery shopping continues to evolve, however, with 92% of all American adults now participating. Supermarkets are the most shopped channel among 81% of report respondents, while mass market retailers account for 65% of shoppers, wholesale clubs are 44% and online-only retailers take 30% of shoppers. Each month, consumers shop four different channels and five different banners.

Online food shopping remains above pre-pandemic levels. 64% of shoppers said they have bought groceries online in the past 30 days and 15% said they shop online every time. Among preferred methods of pickup or delivery, 27% of shoppers turn to same-day or next-day delivery, 27% prefer standard shipping, and 25% opt for curbside pickup.

“Food, at the end of the day, is deeply personal, and many shoppers still prefer shopping in-person when looking for new ideas of what to cook or eat,” Garlich said. “They like to browse for new products … and the ability to handpick food and beverage provides shoppers a greater sense of control in the quality and the relevance of their products.”

The full report can be found here.