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