FMCG Gurus - FMCG Gurus – Price Inflation How Rising Prices Will Impact Consumers in 2024 – Global Report

FMCG Gurus – Price Inflation How Rising Prices Will Impact Consumers in 2024 – Global Report

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FMCG Gurus – Price Inflation How Rising Prices Will Impact Consumers in 2024 – Global Report

 Geographies:  Global  Industries: Consumer Insight, Cost of Living and Price Sensitivity  Published Date:  2024

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FMCG Gurus – Price Inflation How Rising Prices Will Impact Consumers in 2024 – Global Report

Report Description:

This report explores the various barriers and challenges that exist as a result of rising prices in food and drink. Our findings offer insight into consumer behaviors and attitudes toward the impact of rising prices on their health, lifestyle, and dietary habits. The report reveals consumer perceptions around their cost-cutting, brand loyalty, foodservice channels, and more. In addition, our findings present actionable recommendations for brands in making shopping more affordable for consumers.

This report will look at the following areas:

  • Consumer attitudes regarding whether the country is in a recession, their global economic outlook, and insights into household savings.
  • The steps consumers have made to save money over the last six months.
  • Consumer confidence levels regarding their job security over the next year.
  • The proportion of consumers who deem food and drink shopping expensive and those who feel prices have risen over the last year.
  • The proportion of consumers who have reduced spending in the foodservice channel in the last six months and those who have sought premium treats in retailers to compensate for reduced foodservice spending.
  • The steps consumers take to prepare before doing a food and drink shop.
  • The type of retailers’ consumers have started visiting and the proportion of consumers who have switched retailers when food and drink shopping.
  • The kinds of products consumers are looking to reduce spending on.
  • Brand loyalty over the past twelve months.
  • How consumers think retailers cold make shopping more affordable.
  • The most influential product attributes when seeking good value for money food and drink.
  • Changes in meal-time habits and patterns as a result of saving money.
  • The proportion of consumers who have sought out products and flavors that remind them of the past.
  • Consumer concerns regarding the impact of rising costs on their health and the reasons for this.

How This Report Can Benefit the Industry:

  • Inspiring innovation: This report aims to help the industry navigate rising prices in food and drink by using consumer insights to suggest opportunities and innovation for helping make shopping more affordable for consumers.
  • Barriers: Understanding the existing barriers to a healthy lifestyle brought about by rising prices and presenting solutions to combat this.

Files included in this report:

  • FMCG-Gurus-Price-Inflation-How-Rising-Prices-Will-Impact-Consumers-in-2024.pdf
  • FMCG-Gurus-Price-Inflation-How-Rising-Prices-Will-Impact-Consumers-in-2024.pptx

    • If you are a user, click here to login and download the report.

FMCG Gurus – Price Inflation How Rising Prices Will Impact Consumers in 2024 – Global Report

Report Description:

This report explores the various barriers and challenges that exist as a result of rising prices in food and drink. Our findings offer insight into consumer behaviors and attitudes toward the impact of rising prices on their health, lifestyle, and dietary habits. The report reveals consumer perceptions around their cost-cutting, brand loyalty, foodservice channels, and more. In addition, our findings present actionable recommendations for brands in making shopping more affordable for consumers.

This report will look at the following areas:

  • Consumer attitudes regarding whether the country is in a recession, their global economic outlook, and insights into household savings.
  • The steps consumers have made to save money over the last six months.
  • Consumer confidence levels regarding their job security over the next year.
  • The proportion of consumers who deem food and drink shopping expensive and those who feel prices have risen over the last year.
  • The proportion of consumers who have reduced spending in the foodservice channel in the last six months and those who have sought premium treats in retailers to compensate for reduced foodservice spending.
  • The steps consumers take to prepare before doing a food and drink shop.
  • The type of retailers’ consumers have started visiting and the proportion of consumers who have switched retailers when food and drink shopping.
  • The kinds of products consumers are looking to reduce spending on.
  • Brand loyalty over the past twelve months.
  • How consumers think retailers cold make shopping more affordable.
  • The most influential product attributes when seeking good value for money food and drink.
  • Changes in meal-time habits and patterns as a result of saving money.
  • The proportion of consumers who have sought out products and flavors that remind them of the past.
  • Consumer concerns regarding the impact of rising costs on their health and the reasons for this.

Report Agenda and Insights available:

Personal Finances
  • [COL833] Do you believe the country in which you live is in a recession?
  • [COL894] How confident are you about the global economic outlook over the next twelve months?
  • [COL817] Do you believe that your household has adequate financial savings?
  • [COL730] Have you done any of the following in the last six months to try and save money? Please select all that apply
  • [COL281] How confident are you about your job security over the next twelve months?
  • [COL947] Do you think food and drink prices have risen over the last twelve months?
  • [COL987] Have you cut back spending in restaurants and cafes over the last six months?
  • [COL406] Have you sought more premium products and treats at retailers to compensate for reducing spending in restaurants and cafes?
Changing Shopping Habits
  • [COL969] Do you plan to do any of the following over the next twelve months? Please select all that apply
  • [COL795] Do you or your household typically do any of the following before doing a food and drink shop? Please select all that apply
  • [COL379] What type of retailers have you started visiting? Please select all that apply
  • [COL384] Have you switched retailers when food and drinking shopping over the last twelve months?
  • [COL474] What types of products are you looking to reduce spending on? Please select all that apply - 2023
  • [COL186] To what extent do you agree with the following statement I/my household is actively trying to reduce spending on food and drink.”
  • [COL980] Have you become less brand loyal when purchasing any of the following types of products over the last twelve months? Please select all that apply - 2023
  • [COL893] Do you plan to make any of the following changes to your food and drink shopping habits over the next twelve months? Please select all that apply
  • [COL884] How do you think retailers could make shopping more affordable? Please select all that apply
Changing Consumption Habits
  • [COL471] What product attributes are influential when shaping your view on whether food and drink is good value for money? Please select all that apply
  • [COL906] Over the last twelve months, have you eaten any of the following types of meals less frequently with the specific aim of saving money? Please select all that apply
  • [COL468] Have you done any of the following in the last twelve months to save money? Please select all that apply
  • [COL320] Have you made any changes to your eating and drinking habits over the last twelve months to help make food and drink shopping more affordable?
  • [COL125] What changes have you made? Please select all that apply - 2023
  • [COL028] To what extent do you agree with the following statement Over the last twelve months, I have sought out products and flavors that remind me of the past and simpler times”
  • [COL468] Have you done any of the following in the last twelve months to save money? Please select all that apply
Actions & Recommendations
  • [COL834] Are you concerned that rising living costs will impact on your health?
  • [COL828] Why are you concerned? Please select all that apply

Files included in this report:

  • FMCG-Gurus-Price-Inflation-How-Rising-Prices-Will-Impact-Consumers-in-2024.pdf
  • FMCG-Gurus-Price-Inflation-How-Rising-Prices-Will-Impact-Consumers-in-2024.pptx

    • If you are a user, click here to login and download the report.

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