Jesse Newman
speaker
109 appearances
2 recordings
1 series
first heard Oct 2023
last heard Feb 2024
Jesse Newman’s voice in public audio — every appearance, attributed to the second.
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Appearances
But what's clear is that many consumers are feeling really stretched and that particularly for restaurants,
branded center aisle cereals and crackers and your packaged food, consumers are really reacting to higher prices and pulling back on their purchases and just overall changing the way that they eat.
And so as a result, overall food sales are down about 2% from levels last year.
Food company executives, they have said a number of things in recent months.
They've talked about how consumers are responding to increased financial pressure by doing things like cooking more meals from scratch.
They've talked about how they are really working down their pantry inventories, even from stockpiles that they had from the pandemic, and that they're eating more leftovers.
They've also talked about how folks are shifting from conveniences
meals that they made for one person to meals that can feed multiple members of a family.
Yeah, that's exactly right.
She said that she used to try new products or new flavors, just keep her family interested in what she has to offer.
And she said that she's really not doing that these days because she just doesn't want to throw away food if her husband and her four kids aren't fans of whatever she brings home.
They're putting food back on sale.
And that can mean a number of things.
It can mean buy one, get one free deals or just sales, or maybe these products are in an end cap or a featured display in the grocery store.
We're seeing about 33% of food sales that are on promotion versus in 2019, that was at about 36%.
So we're not quite back to pre-pandemic levels, but we're getting there.
These won't seem remarkable to people, except that they just haven't been around.
So, for example, we noticed in Chicago, you can buy a bottle of Dave's gourmet pasta sauce for $9.99.
And if you do that, you get a second one free.
That's at a Jewel Osco.
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