Consumers of all ages and backgrounds are growing weary of rising food prices, solidifying the shift toward budget-conscious priorities and behaviors. The latest CPG + Grocery Consumer Report from R.R. Donnelley & Sons Company reveals that 86% of consumers are frustrated with the rising costs of groceries, and food and beverage prices are driving most of that frustration (80%).
Based on a survey of more than 2,000 consumers and marketing professionals, the report also explores how adults in the U.S. are adapting to save money on groceries. Almost half (49%) of consumers have cut back on dining out to spend more on food at home, and 43% are willing to drive further to shop at stores with better prices. Other common cost-saving strategies include:
- Stocking up during sales (41%)
- Buying less (37%)
- Purchasing less expensive name brands (37%)
- Leaving name brands in favor of private-label (35%)
- Taking advantage of coupons and discounts more often (34%)
Choosing value over loyalty
Fair prices are top of mind for consumers when choosing where to shop and what brands to buy from — 58% said this was a priority, an increase of 5 points from 2023. For a similar percentage (57%) of shoppers, saving money is more important than store or brand loyalty.
High-quality products (45%) and special offers (41%) are also among the top deciding factors in retailer and brand selection.
