Concerns surrounding inflation and rising prices are having an effect on consumers’ shopping habits, according to insights from data science and media company 84.51°.
84.51°’s latest Consumer Digest report, which analyzes consumer sentiment and shopping trends, found that nearly three-quarters of Americans (73 percent) said they’re currently “extremely concerned” about inflation, with more than two-thirds (68 percent) additionally claiming they believe things will get “much worse” in the coming six months.
A whopping 90 percent of consumers also reported that they’ve changed their shopping behaviors—up from 88 percent last month—and 42 percent said they’re now buying fewer items at the grocery store.
|Consumers reported making these changes in response to grocery-store price increases.|
When it comes to the specific ways in which consumers are coping with rising prices, nearly two-thirds (63 percent) said they’ve been on the lookout for sales, deals or coupons. More than half (57 percent) said they’re purchasing fewer non-essential items, 39 percent said they’re purchasing more shelf-stable items and 33 percent said they’re purchasing less meat and fish.
More Americans also reported cooking from home (31 percent), buying smaller sizes/amounts (28 percent) and purchasing more items in bulk (26 percent).
Americans reported seeing rising prices in categories such as dairy (83 percent), deli/meat/fish (79 percent), produce (74 percent), frozen food (68 percent), paper products (68 percent), drinks (63 percent), household cleaning products (61 percent), and canned goods and pasta (58 percent).
More than a third of respondents (38 percent) said they're having a hard time finding coupons/deals for the items they usually buy and 53 percent said they’ve noticed fewer items being on sale.
Nearly half (46 percent) of consumers said they’re currently feeling anxiety about their personal finances.
84.51°’s June Consumer Digest report was based on a series of surveys in June.