Posted: May 01, 2017
Mean consumer spending increased to a ten-year high in 2015, jumping $2,483 from 2014. Annual expenditures for the year averaged $55,978 per household, while total food expenditures were $7,023, a full $264 more than the prior year.
The Food Institute's Demographics of Consumer Food Spending 2017 examines consumer spending patterns on food, based on the Bureau of Labor Statistics' 2015 Consumer Expenditures survey (the latest data available). It provides an easy-to-read breakdown of spending on food overall, food at-home (in 24 categories & sub-categories including beef, poultry, fruits & vegetables, dairy products and bakery products), and food away-from-home. Categories covered include age, income, career, education, race, gender and region of the U.S.
Some of the other stats you can find in this year's report include:
The questions that CPG companies, restaurants and retailers should be asking when considering target markets and consumers’ willingness to spend can be answered by the information included within this report, in a readily available, organized format. With the Demographics of Consumer Food Spending report, you can save valuable time, find critical information quickly, and identify potential demographics in which to market.
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