FMI Research: Shoppers Confident in Managing Their Grocery Budgets

Consumers are adjusting their shopping habits with greater flexibility to better control grocery spending as fall approaches, according to the latest survey by FMI – The Food Industry Association and The Hartman Group. The report, U.S. Grocery Shopper Trends 2024: Return to Routine, offers valuable insights into how shoppers are finding value and evolving their grocery shopping practices in the current economic climate.

While inflationary pressures on food and other consumer goods remain a concern, 83% of Americans feel they have at least some control over their grocery spending.

Positive news comes from the U.S. Department of Agriculture (USDA), which reported that midyear inflation data showed food category inflation rates falling below historical averages in the first half of 2024. The USDA also predicts a modest increase of just 1% in food-at-home prices this year, with an even lower 0.7% anticipated rise for 2025, boosting consumer optimism.

“Shoppers recognize that grocery spending is one area of their household budgets where they have some control. By leveraging deals, promotions, and comparing prices, they continue to find value,” said Leslie G. Sarasin, President and CEO of FMI. “Despite concerns about food prices, our U.S. Grocery Shopper Sentiment Index shows that consumers value the ability to save on groceries and continue to enjoy the shopping experience, a trend we expect to persist as food inflation cools.”

The report also reveals that 79% of shoppers prioritize getting good value during their grocery trips, and the average weekly household grocery spending has remained stable at $163 over the past 18 months. Additionally, 63% of shoppers actively seek deals and adjust their shopping patterns across stores, products, and brands to manage costs.

Extreme weather events this summer, including widespread heat waves, influenced shopping behavior, leading many families to increase grocery spending and stock up on essentials.

Key findings from FMI’s U.S. Grocery Shopper Trends 2024: Return to Routine survey include:

  • Shoppers rate their primary store 8.0 out of 10 in terms of meeting their needs.
  • 65% of shoppers noticed higher-than-normal temperatures this summer, with only 9% associating food shortages with extreme weather.
  • 69% of consumers express strong concern about retail food inflation.

For Media:
Members of the media can request a complimentary copy of the U.S. Grocery Shopper Trends 2024: Return to Routine report. This is the fourth installment in a five-part series for this year. For more information and related resources, visit www.FMI.org/GroceryTrends.

About FMI:
FMI, The Food Industry Association, collaborates with industry members to enhance a safer, healthier, and more efficient food supply chain for consumers. FMI brings together a diverse range of stakeholders—from retailers to producers and service providers—to amplify the collective efforts of the industry. Learn more at www.FMI.org.

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