Despite recovering economy, consumers cautious on food spending
A new poll found less overall spending but store brand popularity up.
Despite signs of an improving economy, 94 percent of consumers plan to keep food, beverage and household goods spending at current levels. A Deloitte poll found that 92 percent reported having become more resourceful in food purchasing decisions since the economic downturn began, and 72 percent said they didn’t feel like they were sacrificing despite spending less. Almost nine in 10 respondents reported substituting store brands for national brands, and only 27 percent plan to switch back when the economy improves. In fact, the survey saw brand loyalty drop for the third consecutive year. For more information on the survey, click here.