Consumer Shopping Habits are Changing
A recent survey on food shopping in 2008 indicates that increased fuel and food costs are influencing how consumers shop, cook and dine. So far in 2008, families are eating their main meal at restaurants only 1.2 times per week, down from 1.3 in 2007 and 1.5 in 2006. Although retailers are benefitting as consumers eat at home more often, shoppers are making fewer two trips per week due to higher fuel costs.
Grocery spending has increased by 4.9 percent to a weekly average of $97.80 so far in 2008, up from $93.20 in 2007, exceeding food-at-home inflation of 4.2 percent over the same period. Some 48 percent of consumers claim their grocery-shopping patterns are being impacted by higher prices, up from 41 percent in 2007. In 2008, shoppers are changing their overall behavior: 48 percent are purchasing fewer food items, up from 40 percent in 2007, while 40 percent are purchasing more canned, frozen or boxed food items as opposed to fresh, non-preserved food, up from 30 percent in 2007. Read complete report.
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