Higher fuel and food costs and other economic pressures are having an impact on how consumers shop, cook, and dine, according to the Food Marketing Institute U.S. Grocery Shopper Trends 2008 report.
A family of five now spends an average of $135 a week on groceries, according to the institute’s report.
Here are other findings from the report.
Due to economic concerns, Americans are cooking at home more and eating less often at restaurants (71 percent). Families are eating their main meal at restaurants only 1.2 times per week, down from 1.3 in 2007 and 1.5 in 2006.
Consumers are buying fewer luxury foods (67 percent) and more store-brand items (60 percent) and eating more leftovers (58 percent).
The high cost of fuel is contributing to the decline in the number of shopping trips — below two per week for the second straight year at 1.9.
When deciding where to shop, 37 percent of consumers cite “low prices” as the overriding factor — up from 31 percent in 2007 and ahead of the second most often cited factor (convenient location at 13 percent).
Upcoming posts on Unlocking The Power of Your Money will discuss:
- 35 Ways to Cut Your Food Bill
- Why Food Prices Are Rising
