Winsight Grocery Business: 84.51° Reveals Shopper Concerns on Inflation, COVID
Nearly half of Americans are uncomfortable with finances, according to survey data
The war in Ukraine, COVID, inflation and even a shortage of baby formula are all weighing heavily on shoppers’ minds. So where does the heaviest burden fall on consumers and what summer plans are consumers considering? 84.51°, the Cincinnati-based Kroger-owned data and media company, breaks it all down in its May Consumer Digest.
Inflation Impact: 84.51° found inflation has been 2x-3x that of the concern of COVID, with 78% of shoppers in the 45-54 age range extremely concerned with inflation and less than half (31%) extremely concerned about COVID.On the flip side, 84.51° found that only 13% of shoppers under the age of 34 are extremely concerned about COVID.
Money Too Tight to Mention: Almost 50% of shoppers claim they are at least somewhat uncomfortable with their finances, 84.51° found, which mirrors sentiment seen during the winter holiday season.So how are consumers cutting back? The majority (62%) are looking for sales, deals and coupons. More than half (58%) are skipping nonessentials such as candy and snacks and switching to lower cost brands and maintaining to cook at home.