Despite easing inflation concerns, consumers are still looking for ways to stretch their dollar at the grocery store, according to the 84.51° Consumer Digest 2024 Year in Review. The percentage of households that are extremely worried about inflation decreased from a peak of 73% in June 2022 to 58% in November 2024. But there’s been little change this year in behaviors like shopping for deals and cutting back on non-essentials.
For consumers who said they don’t feel comfortable with their financial situation, grocery prices were within the top 5 causes of that discomfort. The areas where shoppers noticed price increases the most this year included dairy (80%); items at the deli, meat, and fish counter (77%), and produce (73%).
Other highlights from the report include:
From January to November 2024, there was a slight rise in the share of consumers purchasing fewer items during grocery trips (from 39% to 45%) and those who have been eating out less and grocery shopping more (from 34% to 39%).
Shelf-stable products (59%), frozen food (49%), and dairy (48%) were among the categories where shoppers were most willing to switch brands, while fewer were willing to switch in produce (32%) and pet food (25%).
The most common areas where consumers purchased plant-based foods this year included milk (33%), frozen meals (26%), and frozen meat (20%).
Many consumers cited overall health (59%) and sustainability (42%) as primary drivers of increased plant-based consumption, while cost (53%) and fewer sales (41%) contributed to decreased consumption.
Consumers were most likely to seek sustainable food products among shelf-stable products (34%); dairy (33%); and deli, meat, or fish (28%).
Nearly half of consumers (49%) said they try to avoid or minimize high fructose corn syrup when buying snacks, and 40% said the same about artificial sweeteners. However, 28% don’t look at ingredients when choosing snacks.
Consumers would most like to see innovation in frozen food (67%), shelf-stable goods (56%), and produce (55%).
See the full report for more insights.
