Trendspotting: Appealing to inflation-focused consumers
By
Craig Levitt, managing editor
Trendspotting: Appealing to inflation-focused consumers
By
Craig Levitt, managing editor
Last year, food inflation at retail and foodservice exceeded levels reached during the Great Recession. Even with inflation currently moderating, higher food prices will continue influencing consumers’ spending and eating behaviors this year, according to Circana, formerly IRI and The NPD Group.
At the company’s Growth Summit, held in Las Vegas, March 20-22, Circana food and beverage and foodservice industry analysts said, “When faced with higher prices, consumers will use multiple tactics to reduce or reallocate at- and away-from-home food spending, like trading down to private label