Key insights include:
- Environmental impact is weighted lowest of the six food values, but it scores twice as high among Gen Z compared to Boomer+.56% of Americans report food prices as having risen the most compared to other standard household expenses in the past year.
- The most common food shopping adaptations to food inflation are seeking out sales/discounts, switching to cheaper/generic brands and buying fewer non-essentials.
- Boomer+ consumers are least likely to have changed food shopping behaviors in response to higher prices.
- 37% of Gen Z and Millennials report drawing from savings or going into debt to finance their food purchases.
- Food insecurity remains highest among Gen Z consumers (29%) relative to Millennials (15%), Gen X (13%) and Boomer+ (5%).
- CPI food inflation remained steady at a year-over-year rate of 2.2% for the third month in a row.
Survey Questionnaire: May 2024
Formulas and Calculations
Past Consumer Food Insights
WHAT WOULD YOU LIKE TO KNOW ABOUT CONSUMERS?
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Published:
June 11, 2024
June 11, 2024