Thrivvy’s Post

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

Even as the rate of grocery inflation continues to slow in U.S., shoppers have yet to shift their attention away from food prices, with some turning to discount grocers and mass retailers to stretch their budgets. #groceryretail #inflationinsights

While traditional grocery stores are still the top outlet for purchasing fresh produce, mass retailers and supercenters are gaining market share, with 57% of shoppers purchasing fruits and vegetables from them in 2024, according to FMI- The Food Industry Association’s latest Power of Produce report. #grocery #FMI #produce #sales #massretailers #supercenters #supermarket https://lnkd.in/ekFAcaTA

Interesting research on consumer behavior in the inflationary grocery market. According to the recent survey of 1,000 shoppers, a third of them report they are currently engaged in that behavior as a way to cut their overall bill. More than four in 10 said they would consider doing that as a way to manage their grocery costs. Larger and bulk packages, including family-sized items and products from club stores, tend to be lower in price per unit. Accordingly, some shoppers are getting into their own personal distribution process. Advantage Solutions’ data shows that 78% of those taking part in this practice are doing it with family members, while 42% are divvying up purchases with friends and neighbors and 12% are getting into the habit with roommates. Many bulk and large items lend themselves to such a divide-and-conquer approach to grocery shopping. The survey found that fresh meat and seafood are tops among such purchases, with 44% of consumers mentioning those products, followed by pasta and rice (43%), beverages and snacks (39% and 38%, respectively). About a third of respondents said they buy and split cereal and breakfast foods, fresh produce and frozen foods. https://lnkd.in/esvm2PUG

A $100 grocery haul in 2019 costs almost $140 today — nearly 40 percent more for the same common items, causing consumers to “become creative to cope” with crippling inflation. According to a Wall Street Journal analysis of NielsenIQ data on the prices of everyday foods such as meat, vegetables, starches, and snacks, Americans are facing a dramatic increase across all categories. “A Benjamin just isn’t what it used to be,” the Journal’s Stephanie Stamm and Jesse Newman wrote, alongside graphs showing that the average $100 grocery list now costs 36.5 percent more compared to five years ago. This means that in order to spend the same amount on food as they did in 2019, shoppers would have to place almost $37 worth of items back on the shelves before checking out. Some items have increased even more dramatically, such as eggs, at 63 percent higher, and sports drinks, which are up 80 percent. Prices increased by one percent from February 2023 to February 2024, but the most dramatic jump took place from 2022 to 2023 with a whopping 10.2 percent surge. “Executives have said that higher prices were needed to offset their own rising costs for ingredients, transportation and labor,” the report stated. “Some U.S. lawmakers and the Biden administration have criticized food companies for using tactics such as shrinkflation, in which companies shrink their products—but not their prices.” Consumers have been forced to “become creative to cope with a stretch of record food inflation,” choosing cheaper versions of the products they prefer or strategically looking for sales, coupons, and deals.

Grocery Tracking Work may have slowed down, but tracking is still going. Bellow is a link to a small effort to track individual item's costs across different grocery stores. At a first glance, you may be wondering why I am tracking each exhausting grocery item by hand? Because I have yet to find an itemized list of groceries and costs. My literature search has consisted of general categories summarized in reports of price changes over the last couple decades. For example, did you know that sugary products has been one of the top catagories of food products that have been impacted the most by inflation? While vegtables have been impacted the least?! Although useful, I'm looking to get even deeper than this and find ways to combat high costs. We already know inflation has impacted our groceries, I do not mean to repeat what we all know. With an itemized comparison cost of an individual product, you can quickly realize where to shop for individual products and save LOTS of money. For example, my favorite bone broth (from Kettle and Fire) is sold at Wholefoods at an average cost of $7.99, but the same size and brand will cost up to $13.49 at Safeway! Over 5 dollar difference not including tax. Why pay more money for the same exact product? I have not come up with a good reason this far. But this is one of several points as to why and how research like this is necessary and can impact us all! https://lnkd.in/g-D9zcjb

Hardly earth shattering but still worth monitoring, the latest supermarket price tracking did contain one surprise: basket composition. As consumer researchers, we reduce the complex into simple and talk of 'averages'; conveniently ignoring the variety and nuance of Australia's wonderfully diverse population. However, I still can't get my head around the items used in the price comparison. We've seen the latest Rabobank report that Australian vegetable consumption is declining, but this is ridiculous. The comparison grocery basket at all outlets was filled with 14 items, 12 of which were packaged products, either national brand or comparable supermarket brand/budget brand options (including beef mince and milk), with two fresh fruit and vegetable items (apples and carrots) completing the list: Apples Carrots Weet-Bix Sliced white bread Flour Penne White sugar Tea bags Tinned diced tomatoes Block of tasty cheese Full-cream dairy milk Frozen peas Beef mince Butter. I would love to meet the 'average' family who buys these items every week (and apparently nothing else!). Dr Jason Pallant Jo-Anne Hui-Miller Inside FMCG Professor Gary Mortimer Dr Louise Grimmer Brian Walker Anastasia Lloyd-wallis Professor Jana Bowden Richard Frost Karen Bowie Jon Manning Leanne Tyzzer Jason Blair #consumermarketing #pricing #pricecomparison #supermarkets #duopoloy #monopoly #grocery #packagedgoods #fmcg #shopperresearch #consumerresearch #costofliving #pricematching

US #grocery consumers are increasingly prioritizing low prices, quality products, and a favorable shopping experience, challenging #retailers to excel in all three areas. Differentiation is crucial: focusing on affordability, fresh offerings, or convenience can help capture greater market share. Discount chains, for example, are expanding rapidly, driven by their affordability and improved fresh food selections. Learn more about these retail strategies and how to adapt in this insightful article. https://on.bcg.com/4aPd42z

By planning ahead, sticking to a budget, shopping seasonally, buying in bulk, choosing affordable protein sources, and minimizing waste, you can stretch your dollar further while still enjoying delicious and nutritious meals. With a little creativity and smart shopping strategies, you can make the most of your grocery budget and eat well without breaking the bank. Read Full article: https://lnkd.in/gvvJj-EY

**Avoid These Grocery Stores When Purchasing Ground Beef** Ground beef is a staple for many dishes like burgers, tacos, and meatloaf. However, not all ground beef is the same, and where you buy it matters. Here are some stores to avoid for better quality and safety. **Big-Box Wholesale Clubs**: Stores like Costco and Sam's Club might offer lower prices but be cautious. The ground beef here may lack freshness, have quality control issues, and bulk buying can lead to waste. **Discount Grocery Chains**: Stores like Aldi and Save-A-Lot offer cheaper ground beef but at the cost of quality. They may use lower standards, more preservatives, and lesser cuts of meat, affecting both taste and safety. **Grocery Chains with Recalls**: Chains like Safeway, Kroger, and Walmart have had multiple recalls for ground beef. This highlights ongoing quality control and supply chain issues that can pose health risks. **Untrusted Local Markets**: Some local and specialty markets can be hit-or-miss. Issues include unknown sources, hygiene concerns, and inconsistent quality in their ground beef offerings. **Online Stores Without Certification**: While online shopping is convenient, it’s tough to verify the quality and source of the ground beef. Additionally, delivery issues can affect freshness and there's often no clear return policy. In summary, picking where you buy ground beef is crucial for both quality and safety. Do your research and opt for reputable stores to ensure better meals. --- **Next Steps**: Want to save more than just on groceries? Optimize your tax savings with our expert team at Together CFO. **[Set up a call here](https://lnkd.in/gAa4dwUG and secure your financial future today!