Chicago-based IRI-Worldwide tracks over one trillion retail transactions a year. President of Client Engagement, KK Davey, tells WGN’s Steve Alexander that since food inflation has reached 10%, the data show food shoppers are changing behaviors: They’re cutting back, sticking to their shopping lists, buying less expensive store brands, replacing higher priced proteins with lower priced, and looking for deals. Unfortunately, says Davey, retailers are offering about 40% fewer deals (10 for $10, for example) than they did pre-pandemic.
How high does inflation need to get before shoppers change behaviors? We're there.