Pay more, get less: This is the scenario that’s increasingly playing out at grocery stores across the country, and a majority of food shoppers are taking note.
That’s according to Deloitte’s new 2011 Consumer Food and Product Insight Survey, which shows nearly nine in 10 survey respondents (87.7 percent) believe prices in food stores are escalating and almost three-quarters (74 percent) say the size of some packaged goods is smaller.
Consequently, savvy consumers are purchasing more private-label and store brand products. More than three-quarters of respondents (75.3 percent) purchased lower-priced products and nearly two in five respondents (39.6 percent) added more private label products to their grocery bags.
High gas prices are also having an impact on shopping behaviors. Nearly three in four respondents (72.7 percent) are making fewer trips to the grocery store to save money and more than two-fifths (40.8 percent) are purchasing fewer items overall.