It’s unusual for a retailer to make it more difficult for consumers to shop at its stores. But membership fees are the key to Costco’s business. In fiscal 2022 (ending August 28), membership fees accounted for 54% of the company’s operating profit; the figure has risen to 58% in the first three quarters of fiscal 2023.
A new survey offers insight into Americans’ current challenges when trying to maintain access to healthy food. While most people are well aware of the importance of eating healthy food in 2023, recent findings from …
With some financial experts predicting a fairly significant downturn soon, here’s advice for recession-proofing your business.
Impossible Foods recently laid off 20% of its employees. Is this the beginning of the end for alt-meat?
Chicken wings are cheap and beer is expensive. Amid inflation, brands need an omnichannel approach to reach consumers, especially as it relates to snacking.
Fed cattle prices are expected to range from $150 to $172 per hundredweight, averaging $158 for the year, up $14 from last year.
Now that Walmart has joined Target and Costco by raising their minimum pay to about double the federal rate of $7.25 an hour, fast-food outlets may have to consider boosting their minimum to $20 to …
Consumers could be getting a break with companies like Conagra Brands, maker of Hunt’s ketchup and other popular packaged groceries, pulling back on price hikes following last year’s worst inflation in four decades. In its …
Though experts still are split on whether the U.S. Federal Reserve’s inflation-fighting moves will plunge the economy into a recession, consumers apparently aren’t waiting for the official figures, already trimming their grocery bills and choice …
CEOs and other C-suite executives see slow growth and digital innovation ahead, the Conference Board 2023 C-Suite Outlook found. Some 1,131 C-suite executives responded to the board’s annual survey. Projected economic growth is expected to …
Costco CFO Richard Galanti reveals the formula for Costco’s lofty customer service score: keeping members happy, especially during inflation.
Consumers who want to save money on groceries are turning to coupons, loyalty programs, and rewards while cutting back on snacks, a survey by Seattle retail technology platform Swiftly indicates. The online True Cost of …
Due to the current inflationary environment, and with fears of a looming recession, analysis shows consumers are trading down in their spending, looking at less expensive brands and going for deals.
Despite recession fears, consumers were in a spending mood to kick off the holiday season, breaking Black Friday and Cyber Monday sales records.
The coming year could be a turbulent one as grocers navigate economic uncertainty while also benefiting from shoppers’ return to stores in a post-pandemic environment.
While worries over inflation and the economy take precedent for a leading percentage of consumers, a sizable number are approaching the holiday season with a desire to live sustainable lives or have rewarding experiences.
THC is one of the fastest growing ingredients in foodservice, increasingly legal, and visible amid a key demo—the millennials.
The common wisdom is that it’s cheaper to eat a home-cooked meal than to dine out or order in, but with dining-out prices increasing at a slower rate than grocery prices, that old adage may …
The Food Institute spoke with food industry executives to determine their strategies to withstand a coming recession.
According to a new survey, on average, consumers spend $13 per order on so-called “hidden” delivery fees. Despite such fees, young adults seem willing to pay.
The effects of the COVID pandemic, continuing labor shortages and higher transportation costs, as well as drought and outbreaks of avian influenza, will impact Thanksgiving spending, sending turkey prices up more than 70% compared with …
Inflation is hitting Americans hard and is causing most to cut back everyday items. A recent survey from Attest proves that food and beverages are not immune to necessary cutbacks. Dr. Lin Carson, CEO of …
It’s been a year of shifting priorities as inflation firmly holds its grip on the US economy. For those in the food industry, it’s a battle over managing prices while facing limited supplies and labor. …
Food inflation has been a major contributor to CP’s steady climb, and is negatively impacting consumers’ outlooks on inflation in the future.
Some food brands have reformulated their products using cheaper ingredients – a tactic some refer to as “skimpflation.”
As a variety of factors aggravate the downward trajectory of alternative meat sales at retail, refrigerated varieties continue to fuel the category’s deceleration.
It’s difficult to project how the fast-casual industry will perform in a recession. The current version of the industry hasn’t really seen one. To be sure, the fast-casual concept predates the financial crisis of the …
Improvement in energy prices is prompting increased consumer spending on affordable indulgences like snack nuts and spaghetti.
With August food prices increasing 11.4% year-over-year, Americans are experiencing a fundamental shift in their everyday patterns, with some even adopting an “inflation diet.” A recent survey by consumer research platform Attest took a closer …
Avian flu and energy prices are pushing turkey prices to new heights, with breast meat going for more than $6.50 a pound.
Grocers must focus on solidifying loyalty among shoppers during economic turmoil, and a carefully considered advertising approach is key.
While shoppers are still spending in today’s high-inflation environment, they are prioritizing where to invest their dollars, according to a Gravy Analytics trends report from the second quarter of 2022. Dining Preferences Shift Many consumers …
As many shoppers trade down brands in the wake of rising inflation these days, what retailers need to do to attract these customers differs based on their usual value proposition.
With the U.S. inflation rate at an elevated 8.7% for July 2022, consumers, manufacturers and retailers alike must remain agile to adapt to ongoing economic pressures. “The past few years of COVID-19 have brought enormous …
Tea-infused cocktails are the latest drink trend on TikTok, signaling that healthy, affordable beverages resonate with consumers.
Retail media networks are emerging as inflation, shifts in consumer behavior, and increasing cost pressures change the future of food retail.
