The price of groceries has reached a historic high. In August 2022, the US consumer price index found the cost of food was up 11.4% year-over-year (YoY), the largest 12-month increase since May 1979. Prices were up 11.2% YoY in September, showing virtually no signs of slowing down. Consumers have responded with a massive shift in grocery buying behavior.
Key Question: What product categories are grocery shoppers buying less often, what are they buying more frequently, and what actions have they taken to save money at the grocery store?
KEY STAT: Grocery buyers are looking to sales and coupons to save money, but many are simply buying fewer groceries overall.
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