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Grocery Prices A Concern As Coronavirus Cases Surge

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Grocery Prices A Concern As Coronavirus Cases Surge

U.S. consumers are stocking up on food supplies ahead of a potential surge in COVID-19 cases — and they're worried about rising food prices, according to two separate surveys.

Replenishing Ahead Of Winter: An Inmar Intelligence survey of U.S. consumers found that 57% of shoppers are looking to replenish their food pantries ahead of the winter season.

Another 54% of people said they plan to always have a stockpile of food moving forward.

Twenty-seven percent of respondents want to stockpile food items due to concerns that the product they want won't be in stock when needed. Another 27% cited safety concerns associated with in-store shopping during a surge of COVID-19 cases.

Brick-and-mortar grocery stores will continue playing an important role, as 55% of shoppers plan to buy goods in-store, according to the survey.

When asked what products are in or will be in their stockpile, 67.5% of respondents said toilet paper; 57.2% answered hand sanitizer; 53% answered disinfecting wipes; and 52% named paper towels.

Related Link: Whole Foods Launches 1-Hour Pickup: How It Compares To Amazon's Grocery Rivals

Rising Food Prices: Customer data science company dunnhumby found in its survey that 49% of people are worried about their personal finances.

Dunnhumby's fifth worldwide study of the impact of COVID-19 found that 68% of people believe the economy isn't doing well for them while 91% of people are closely watching grocery prices.

"Seven months after shutdowns, we are now seeing a major pivot with consumer focus turning away from the virus itself to now being more concerned with increasing food prices while the economy and their personal finances are deteriorating," Jose Gomes, dunnhumby's prresident of North America, said of the survey findings.

Retail giant Walmart Inc (NYSE: WMT) was rated by 34% of respondents as the best store to find value. Privately held Aldi ranked second at 12%, followed by Kroger Co (NYSE: KR).

 

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