I’ve recently heard that saving money is becoming a “pass-time” for many Americans. When I think of pass-times, I think of sports, fishing, traveling, being with friends and family… not saving money on groceries. With grocery-specific inflation at 12%, it’s wholly unsurprising that frugality at the store has become front of mind for most consumers. I would personally stop short of calling it an emerging hobby, though.
Some of the consumer behaviors we’re seeing in response to elevated grocery costs are high enrollment and engagement in loyalty groups, couponing, fewer luxury items, fewer snack foods, fewer items purchased per trip, and a decline in online grocery shopping. One of the positives we can take from these emerging trends is that more consumers are stepping foot into grocery stores, more frequently than they have over the last 3 years. We know that while in-store, people are still seeking out “cheap thrills”. That little serotonin boost or a small moment of zen in an otherwise difficult week is still part of the equation. Baked goods like donuts, muffins, cakes, and fritters still fill that need.
We know that in-store bakery offers us opportunity in 2023. We also know that ingredient and supply chain challenges will continue to complicate our reality well into the new year. In these final days of 2022, we are focused on continued improvement, remaining dedicated to producing the highest quality food ingredients at the most competitive pricing possible, to constant innovation, to being the most reliable business partner in the game. This is the most challenging time we can remember in our company’s history. Challenge accepted.
If you need a reliable custom developer to charge into 2023 with, give us a call at 312-254-3539 or fill out our Sample Request Form to get the ball rolling.