Fruit & Vegetable Sales in March 2022 vs. the Peaks of 2020

Inflation has reached a 40-year high and consumers are extremely aware. “In March 2022, IRI’s survey of primary shoppers found that 92% of consumers believe food prices are somewhat or a lot higher than last year, of whom 95% are concerned about it,” shared Jonna Parker, Team Lead Fresh for IRI. “This includes 49% who are extremely concerned, which is far greater than the 27% of consumers being extremely concerned over coronavirus in this same survey. This means that inflation has a far greater grip on the nation’s food spending than COVID-19 in the current marketplace.”

The inflationary levels are prompting a range of money-saving measures among 72% of consumers. “While shoppers tried to combine all grocery needs into one store, one trip in the past few years, 17% of consumers now visit multiple retailers to get the best deals,” added Parker. “Switching stores is typically one of the very last measures shoppers take in order to save, but clearly the widespread nature and the level of inflation are such that even an extra trip to capitalize on lower prices or promotions is worth it. Others, especially lower-income shoppers, are leveraging online shopping as a money-saving measure given the ease of comparing prices and promotions across stores and the ability to monitor the total spend easily as items are added to the online basket.”

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U.S. Produce Market Watch

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