The NPD Group found one-third of adults feel their financial situation is worse this year than last. Most of those concerned have larger families and many of these concerned adults are trying to prepare meals at home, use up leftovers and stock up on items when they are on sale.
Food Business News
ROSEMONT, ILL. — As food and gas prices are increasing to record levels, many consumers are seeking value, making trade-offs and counting on leftovers when meal planning, according to a new report by The NPD Group.
“American consumers now spend about 10% of their disposable income on food and have not, historically, allowed food expenses to rise faster than their disposable income,” said Harry
Balzer, vice-president of The N.P.D. Group. “Consumers will likely shift behaviors to find food solutions that meet a budget before spending more on the same foods.”