FMI’s newest edition of our annual survey, U.S. Grocery Shopper Trends 2024: Finding Value, provides a crucial snapshot of consumer behavior and sentiment amid ongoing concerns about the impact of inflation on the cost of groceries.
FMI learned in this research that in order to manage higher prices in certain areas, today’s grocery shoppers navigate purchasing decisions through a more expansive understanding of value. Even channels strongly positioned around offering low prices are often evaluated in terms of other value criteria, such as the quality or healthfulness of their product selection or their shopping experience.
This is not to say that price is irrelevant to the value equation – 91% of shoppers concerned with rising prices have made some changes to their shopping habits. While half of shoppers say they are looking for more deals, 32% are buying fewer items and a smaller number are cutting back on categories such as organic (15%) or fresh items (14%).
Consumers are also recalibrating where and how they shop. Despite a decade-long trend toward mass retailers, 40% of shoppers now choose supermarkets as their main store, compared to 32% opting for mass stores for their primary shopping trip.
Additionally, Americans continue to prioritize eating meals with family and cooking at home. Eighty-eight percent say they believe eating together is at least somewhat important; and within that number, 31% say it is very important and 32% say it’s extremely important. Furthermore, 43% of adults say they “like” or “love” cooking, which is similar to the levels reported for the past five years.
Ultimately, food shopping remains a labor of like – if not always a labor of love. Understanding why can illuminate opportunities to better serve value-seeking grocery shoppers. While offering savings and deals continues to be important to shoppers, additional opportunities can be found by recognizing the role of food engagement and experiences for American consumers as they navigate today’s food shopping challenges.
To download the U.S. Grocery Shopper Trends 2024: Finding Value report, visit fmi.org/grocerytrends. In addition to this report, FMI released reports on Online Shopping and Eating & Cooking as a part of the U.S. Grocery Shopper Trends series.
