Consumers looking for sales and switching to generics

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For most Americans, higher prices at the grocery store did not impact their Fourth of July cookout, but more consumers are looking for sales and switching to generics, according to the Consumer Food Insights Report.
The survey-based report out of Purdue University’s Center for Food Demand Analysis and Sustainability assesses food security and spending, consumer satisfaction and values, support of agricultural and food policies and trust in information sources.
Compared to five months ago, more Americans are making changes in response to higher food prices. The largest share of consumers, 28%, now reports seeking out more sales and discounts, and more people are switching to generic, using coupons, cutting out nonessentials and shopping at cheaper stores.
“Shopping discounts and generics is a clear sign of budget consciousness among consumers,” said Jayson Lusk, the head and Distinguished Professor of Agricultural Economics at Purdue who leads the center. “After increasing for several months in the first half of the year, food expenditures are now remaining relatively consistent. This indicates consumers have become more concerned with finding ways to keep their grocery bills from rising any higher.”
Purdue experts conducted and evaluated the survey, which included 1,200 consumers across the U.S.
Additional key results include:
16% of all households are food insecure.
Weekly food spending rose by 3% from June to $191 per week.
More consumers are looking for sales, switching to generics, compared to five months ago.
Food insecurity in 2022 is highest among those without any college education.
A Sustainable Food Purchasing (SFP) Index of 69/100.

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