The Food Industry Association, FMI, recently released a report detailing US shopping trends, and revealed that a shocking majority of shoppers have had to change what they buy, and how much they buy, at grocery stores amidst skyrocketing prices.
The report found that 86 percent of American consumers are concerned about rising food prices, and have subsequently changed the way they shop.
According to the report, "US Grocery Shopper Trends 2022 – Navigating a Hybrid World," supply chain issues post-Covid have left the grocery industry facing serious challenges.
For consumers, this translates to higher prices.
Of those who said they were concerned about the rising cost of food, fifty-nine percent said they're looking for deals, and thirty-five percent said they were making the switch to "store brands."
There has also been a shift in what people are buying. The report found that fifty-two percent of meat-eaters have sought smaller portions, with around a third saying they have cut out beef and/or chicken entirely.
The report noted that more and more consumers are shopping for food online. Sixty-four percent said they'd bought groceries online in the past thirty days, while fifteen percent said they exclusively shop via the web.
In May, the Consumer Price Index found that food prices had risen 1.2 percent, and by 10.1 percent compared to May of 2021, marking the first increase of more than ten percent since March 1981, over forty years ago.
The Biden administration has repeatedly blamed rising prices on "Russia, Russia, Russia."
While the war in Ukraine has had an impact on supply chains around the world, there are other factors at play. Whatever the cause, few believe it is a problem that will be solved any time soon.
"This is not a transitory problem," one farmer said. "It's chronic and systemic."
"If you think we're seeing food price spikes right now, I think the food price increases are just starting."
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