Goodbye grocery greedflation and shrinkflation; hello deals
The tide is turning on food prices. Consumers can rejoice, but manufacturers and stores should worry
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“GREEDFLATION” in the grocery aisle is over. That’s the message from the consumer giants on both sides of the Atlantic. It’s great for consumers – not so good for manufacturers.
After three years of rampant escalation in food prices, many consumers in the United States and Europe have had enough. They are voting with their wallets and trading down to cheaper off-brand and private labels, as well as companies that offer better value meals.
As a result, supermarkets, manufacturers and fast-food chains are all stepping up promotions to entice customers to buy more. But this is happening unevenly across the industry. With many consumers still under pressure, profit margins are at risk.
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