Fruits and vegetables have grown the most in affordability since January 2020
with a 17.3% CPI increase, followed by dairy and related products at 20.5%.
Impulse purchases, displays and in-stock value were three of the main themes during FMI’s ‘Power of Produce 2024’ session at the SEPC’s Southern Exposure.
A softening of food demand was to be expected in 2023 given the magnitude of food price inflation experienced over the past two years, said Nestle's CEO.
Demand for fresh chicken sold in grocery stores is steady and looking more like pre-Covid demand, but inflation is still very much on producers’ and retailers’ minds, industry experts say.
While analysts expect fresh seafood sales to continue to be challenged in 2024 due to shoppers’ economic concerns, sales of prepared seafood items should continue to grow.
Higher interest rates, reduced savings and fewer government benefits from SNAP are impacting how consumers spend their money and, in turn, strategy, Kroger's CEO said.