Have you ever been frustrated when the upscale grocery runs out of their daily deal? John Norris, Chief Economist, explores how even high-end shoppers are clipping coupons and chasing bargains - and dives into what that could mean for the economy. Consumer habits are shifting. "The issue with economic growth isn't where you shop. It's how much you buy and spend when you shop." Could an increase in people shopping at discount clubs like Sam's actually benefit the broader economy by freeing up money for other purchases? Read more in this week's Common Cents, here: https://lnkd.in/gneU24ea
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Grocery stores and restaurants are facing a common challenge of retaining customers while keeping the cost of goods sold in check. In today's competitive landscape, it's innovation that sets apart the winners from the rest. Are you ready to innovate and take your business to the next level? Share your strategies in the comments below and let's grow together! #grocery #restaurant #innovation #businessgrowth
Here’s What $100 Will (and Won’t) Buy You at the Supermarket in 2024
wsj.com
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Grocery Shopping Hacks Families, I need your input! 🛒 With grocery prices going up, what are your secrets for keeping the food bill manageable? I've been buying some things in bulk while only going fresh for others to avoid waste. What about you? Share your grocery shopping hacks - let's save together! 🥦🍞 #GrocerySavings #BudgetFriendlyMeals #InflationChallenges #FamilyBudget #MadeInNorthAmerica
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Grocery Shopping Hacks Families, I need your input! 🛒 With grocery prices going up, what are your secrets for keeping the food bill manageable? I've been buying some things in bulk while only going fresh for others to avoid waste. What about you? Share your grocery shopping hacks - let's save together! 🥦🍞 #GrocerySavings #BudgetFriendlyMeals #InflationChallenges #FamilyBudget #MadeInNorthAmerica
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Fuel remains a major revenue driver for c-stores, but the pandemic highlighted the importance of food, snacks, and quick essentials. With electric vehicles on the rise, companies are focusing more on inside sales emphasizing categories like candy, snacks, and beverages. https://lnkd.in/esKUbeMn What new marketing strategies are you testing to bolster your in-store foot traffic? #cstoremarketing #insidesales #mobivity #innovativemarketing
5 charts that highlight the evolving c-store landscape
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Grocery Shopping Hacks Families, I need your input! 🛒 With grocery prices going up, what are your secrets for keeping the food bill manageable? I've been buying some things in bulk while only going fresh for others to avoid waste. What about you? Share your grocery shopping hacks - let's save together! 🥦🍞 #GrocerySavings #BudgetFriendlyMeals #InflationChallenges #FamilyBudget #MadeInNorthAmerica
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Grocery Shopping Hacks Families, I need your input! 🛒 With grocery prices going up, what are your secrets for keeping the food bill manageable? I've been buying some things in bulk while only going fresh for others to avoid waste. What about you? Share your grocery shopping hacks - let's save together! 🥦🍞 #GrocerySavings #BudgetFriendlyMeals #InflationChallenges #FamilyBudget #MadeInNorthAmerica
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💸 Prices are going up, but it's not your local grocery store making big profits. Grocers have thin margins, often just 2.5%. The real winners? Credit card companies who sometimes make more on your purchase than the store. Let’s focus on the real issues driving up costs and find solutions. #RisingPrices #Greedflation #CreditCardFees #PAFoodMerchants CC: Alex Baloga | PennLive.com
Don’t blame your local #grocer for the high cost of #food | Opinion Published: May. 17, 2024, 2:39 p.m. By Alex Baloga By Guest #Editorial #PFMA #stores #retail #supermarket #foodindustry #business #companies #impact #associations #update The numbers bear it out. One longtime Pennsylvania-based grocery chain reported net sales for 2023 totaling almost $5 billion. That’s a lot of sales, for sure. But net income — meaning the amount kept as profit after taxes and other expenses are factored in — was less than 2.5%. That’s about the industry average for food retail. For every dollar sold, the grocer makesless than 2.5 cents. With such low margins, groceries stay in business based on volume; they have to sell a lot of stuff to make the numbers work. https://lnkd.in/gdgVBriU Pennsylvania Food Merchants Association PennLive.com
Don’t blame your local grocer for the high cost of food | Opinion
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Lifestyle creep and shrinkflation are some of the leaks that over time can destroy your budget and savings strategy. First step to managing your cash is paying yourself and automating bills! Find more on my page
Grocery store shoppers are noticing something amiss. Air-filled bags of chips. Shrunken soup cans. Diminished detergent packages. Companies are downsizing products without downsizing prices, and consumer posts from Reddit to TikTok to the New York Times comments section drip with indignation at the trend, widely known as “shrinkflation.” The practice isn’t new. But outrage today is acute, with President Biden tapping into the angst in a recent video, and companies themselves are blasting the practice in marketing gimmicks. One Canadian chain unveiled a growflation pizza. (“In pizza terms,” the company’s news release quipped, “a larger slice of the pie.”)
Shrinkflation 101: The Economics of Smaller Groceries
https://www.nytimes.com
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As consumers cut back on expenditures, premium brands face an existential question: Should they shift their differentiated position to a low-price message or focus on their unique value and distinctive benefits? For example, should BMW shed its hundred-year-old image of being known for producing high-quality, meticulously crafted cars—"The Ultimate Driving Machine"—to become low price? Would that approach even work? When premium brands try to increase market share by going downmarket while retaining their reputation for quality, they often confuse customers, dilute brand meaning, and allow competitors to claim the title. Steve Jobs knew this challenge when he returned to Apple for his second stint at the helm. Apple was in bad financial shape, and Jobs faced intense pressure to lower prices to compete with cheaper mass-market products. His response to investors: “There are some customers which we chose not to serve." Many years later, Apple tried to go downmarket with a cheaper iPhone, it failed because it was antithetical to what the brand stood for. When Harley-Davidson made cheaper products, it nearly bankrupted the company and destroyed one of America's greatest brands. I empathize with Whole Foods's challenge to address the "Whole Paycheck" perception, but instead of trying to erase this clever, sticky, and indelible cultural meme, I suggest leaning into this perception and owning it in a way that turns it into a brand advantage. Target did this for a while with "Tarjay," the faux French accent meme that reminded customers their products were decidedly chic but affordably worth it, distinguishing them from other mass-merchants. Some will say food is different, but if Wegmans decided overnight to become a low-priced brand, it would erode the incredible market value they've established over many decades. Secondly, it would fail because there's too much perceptual equity in being a deliciously differentiated brand. Instead, Wegmans continually reminds its loyal customers why the brand is worth the slight premium, particularly in tough times when other sacrifices have to be made. Our society is obsessed with living longer, eating healthier and knowing where its food comes from and how it is made. Instead of trying to become just another ordinary grocery store, I wish Whole Foods reminded customers why good, healthy, sustainable food should cost slightly more than low-price options. #grocerystores #supermarkets #foodretail #food #health #organic #natural #branding #strategy #business #retail #business #sustainability #stores
For years, Whole Foods Market Foods has been trying to chip away at its high-price image with sale tags and Prime membership discounts. But this strategy appears to have accelerated in recent months as the specialty grocer tries to win over shoppers who are also stopping by discount grocers, supermarkets and even Walmart stores to fill up their fridges and pantries. The writing is on the yellow tags. But can the Amazon-owned grocer really shed its “Whole Paycheck” reputation? Story by Peyton Bigora, with valuable insight from Anne Mezzenga and Neil Saunders.
‘Whole Paycheck’ no more? Whole Foods is ramping up value messaging.
grocerydive.com
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"Young adults are battling sticker shock at the grocery store by supersizing their groceries. They are turning to bulk purchases, splitting their food costs with friends, roommates, family and neighbors. Shoppers in their 20s and 30s are trying to fight higher prices by joining warehouse-store giants such as Costco Wholesale and Sam's Club." This from Margot Amouyal of the The Wall Street Journal (thanks for the share, The Food Institute). I just finished an article for Brandingmag discussing the power of 'Social barriers' in shopper decision-making, citing our recent #Snack50 Report finding that categories like tortilla chips and pretzels are actually most impacted by social considerations (vs. even factors like price). 𝗦𝗼 𝘁𝗵𝗲 𝗾𝘂𝗲𝘀𝘁𝗶𝗼𝗻 𝗳𝗼𝗿 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗽𝗿𝗼𝘀 𝗮𝗻𝗱 𝗺𝗮𝗿𝗸𝗲𝘁𝗲𝗿𝘀: if consumers are indeed forming these 'buying groups' to combat pricing, should we really be so focused on PRICE, or are our strategic and activational efforts better served addressing social considerations? After all, if I'm making a Costco run on behalf of not only myself, but also my "friends, roommates, family, and neighbors," I'm much more concerned about social consensus than I am price points... #consumerinsights #shoppermarketing #foodandbeverage https://lnkd.in/gypTUe_a
Costco and Sam’s Club Aisles Are Full of Gen Z Shoppers
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