. Pay cuts have squeezed family budgets. Even those with the same income may feel uneasy, as they read unemployment reports or see neighbors, family or friends get furloughed or laid off.
This economic downturn is sharper and more complex than others, though — and that may make consumer behavior harder to predict. Grocery spending has been up significantly since the start of the pandemic. It was nearly 27% higher year over year in the week ended May 3, according to IRI. Private labels had already been on an upward trend and have more room to grow. In the U.S., they make up a smaller market share in terms of units and dollars. They've made up about 16% of the dollar share of the market so far this calendar year, according to IRI.
During the stockpiling phase of the pandemic, Davey said private labels sold at a higher rate as customers cleared shelves and bought whatever was available. Now, as people tighten their belts, he said the trend will stick for a different reason: People will be more willing to skip a favorite brand and choose a value option.
My patterns are having to change due to chronic stock issues.
Open all businesses. Only nonessential workers are politicians
You did not say, “ cutting back on snacks “.
Yeah but the NQ is flirting with record highs? Why not be the responsible ones in the room and let Joe Public know it gets far worse before better and that paying current stock market prices is maybe showing a very low IQ?
Sad that 36 million Americans are unemployed JoeBiden
With millions of un employed and more on the way no surprise there
Everyone is becoming.... ME!