Consumer Spending Trends This Holiday Season
For many people the holidays are a time of family, food and festivity. The food part of the equation is likely to be a little pricier this year. With inflation driving up food prices, shoppers are focusing on managing food costs while still being able to create enjoyable, festive holiday meals.
FMI – The Food Industry Association U.S. Grocery Shopping Trends 2022: Holiday Shopping report found that 71% of consumers are making some adjustment to their holiday meal shopping to adapt to the changing economic landscape. These adjustments include looking for deals (28%), choosing store brands over others (21%), making fewer dishes overall (17%) and encouraging guests to bring dishes (17%).
Commenting on the report, Leslie Sarasin, president and CEO of FMI said “food is the centerpiece for so many of our holiday gatherings. Despite inflationary pressures, consumers are determined to enjoy the festivities this year as they normally do.”
Consumers are also choosing more private label store brands to make their money go further. A Store Brands article on Daymon’s 2022 Private Brands Report highlighted that 95% of shoppers are considering or definitely purchasing private brands during the holiday season. The article also noted that the survey by Daymon found that nearly one in four consumers said they are motivated to buy private brands this holiday because the brand they normally buy raised their price.
No matter what products consumers choose this year to prepare their holiday meals, they don’t want the hassle of hard to open jars. With the EEASY Lid topping their jarred products, brands can make the purchase decision a no brainer for consumers.