Rising grocery prices force customers to buy less, change brands and switch stores
3 years, 3 months ago

Rising grocery prices force customers to buy less, change brands and switch stores

CNN  

New York CNN Business — Morgan Moore’s grocery bills are sky-high. “We have seen some resistance” from customers to prices on premium cuts of meat, Sprouts Farmers Market CEO Jack Sinclair said on an analyst call last month. Leaders at discount grocers such as Walmart, Dollar General, Dollar Tree, Grocery Outlet, Costco and BJ’s Wholesale Club have said in recent weeks that customers are noticing the higher prices and changing their shopping behavior. Customers “are feeling the inflation,” said Dollar Tree CEO Michael Witynski on an analyst call last month. Cost increases and supply constraints “will impact how consumers shop and select,” Kristen Hanson, the vice president of Tops’ center store merchandise, private-label brands and pharmacy, said in an email.

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