{"id":219907,"date":"2022-03-03T14:24:20","date_gmt":"2022-03-03T06:24:20","guid":{"rendered":"https:\/\/nexuswise.com\/?p=219907"},"modified":"2023-05-17T13:07:39","modified_gmt":"2023-05-17T05:07:39","slug":"consumer-survey-asks-how-expensive-is-too-expensive-for-food","status":"publish","type":"post","link":"https:\/\/nexuswise.com\/consumer-survey-asks-how-expensive-is-too-expensive-for-food\/","title":{"rendered":"Consumer survey asks: \u201cHow expensive is too expensive for food?\u201d"},"content":{"rendered":"<p><img decoding=\"async\" class=\"alignnone wp-image-219909\" src=\"https:\/\/nexuswise.com\/wp-content\/uploads\/2022\/03\/White-Tan-How-to-Grow-a-Home-Based-Business-Youtube-Thumbnail-1.png\" alt=\"\" width=\"975\" height=\"548\" \/><\/p>\n<p>Supply chain and other disruptions have caused global food prices to spike. A new survey of 1000 U.S. and UK consumers aimed to find out how much of a price increase consumers are willing to incur before deeming a food, beverage, or nutritional product too expensive to purchase. The survey was commissioned by UK-based PR agency Ingredient Communications and fielded by market research consultant SurveyGoo.<\/p>\n<p>In the survey, 94% of respondents said their food shopping bills have increased, with 79% attributing the increase to supply chain problems. In general, survey respondents said they would stop buying a food, beverage, or nutritional product once its price rose an average of 40% over its original price.<\/p>\n<p>Diving deeper, the survey found that shoppers are more likely to continue paying rising prices for low-cost staple goods such as milk (for which they\u2019d pay up to 65% more), bread (they\u2019d pay 62% more), and fresh vegetables (they\u2019d pay 60% more).<\/p>\n<p>However, they were much more likely to be price sensitive when comes to nutritional products like protein powder (which they would stop buying after the price rose an average of 17%), probiotics (deemed prohibitive at a price increase of 23%), dietary supplements (prohibitive at a 26% price increase), and omega-3 fish oil supplements (prohibitive at a 28% price spike).<\/p>\n<p>Price increases are also driving more consumers to lower-cost options. For instance, 48% of respondents said they had switched to a cheaper product brand over the past three months, and 26% said they now opt for a retailer\u2019s private-label product instead.<\/p>\n<p>In a press release, Richard Clarke, managing director of Ingredient Communications, advised: \u201cIn such challenging market conditions, brands will need to work hard to retain consumer loyalty. An effective way to achieve this is to demonstrate added value by using high-quality ingredients that provide clear differentiation and command high levels of trust, whether that\u2019s through proven efficacy, sustainability, strong co-branding, or a combination of these. These values, communicated effectively, will tie a consumer to a brand more closely, mitigating the impact of price increases on purchasing behavior.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>Resources: https:\/\/www.nutritionaloutlook.com\/view\/consumer-survey-asks-how-expensive-is-too-expensive-for-food<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Supply chain and other disruptions have caused global food prices to spike. A new survey of 1000 U.S. and UK consumers aimed to find out how much of a price increase consumers are willing to incur before deeming a food, beverage, or nutritional product too expensive to purchase. The survey was commissioned by UK-based PR [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":219909,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[6],"tags":[],"dipi_cpt_category":[],"class_list":["post-219907","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsletters"],"_links":{"self":[{"href":"https:\/\/nexuswise.com\/wp-json\/wp\/v2\/posts\/219907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nexuswise.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nexuswise.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nexuswise.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/nexuswise.com\/wp-json\/wp\/v2\/comments?post=219907"}],"version-history":[{"count":1,"href":"https:\/\/nexuswise.com\/wp-json\/wp\/v2\/posts\/219907\/revisions"}],"predecessor-version":[{"id":219910,"href":"https:\/\/nexuswise.com\/wp-json\/wp\/v2\/posts\/219907\/revisions\/219910"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nexuswise.com\/wp-json\/wp\/v2\/media\/219909"}],"wp:attachment":[{"href":"https:\/\/nexuswise.com\/wp-json\/wp\/v2\/media?parent=219907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nexuswise.com\/wp-json\/wp\/v2\/categories?post=219907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nexuswise.com\/wp-json\/wp\/v2\/tags?post=219907"},{"taxonomy":"dipi_cpt_category","embeddable":true,"href":"https:\/\/nexuswise.com\/wp-json\/wp\/v2\/dipi_cpt_category?post=219907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}