For many economically pessimistic consumers attractive pricing will seal the deal, while value-added products offering convenient meal options appeal to busy shoppers.
With the fourth quarter of 2022 well underway, the U.S. consumer’s general economic mood is measured, to put it mildly. Nearly half (44%) of Americans say their financial situation is a little or a lot worse than a year ago, compared with 27% of Americans saying they expect their financial situation to be better one year from now.
“Number 1 on everybody’s shopping list is saving money,” said longtime supermarket and food industry analyst Phil Lempert. “So when people are going to that meat case, what they are looking for is the cheapest cuts that they can.”