BUYER BIFURCATION

Through 7/14/24, YTD sales volume of private label food and beverage (F&B) items were up 3%, while value priced and mainstream F&B products were both down 1%. Conversely, premium F&B foodstuffs were up 2%, and super-premium labels were up 4%. This shows the bifurcation occurring among consumers. Wealthier shoppers increasingly pay up for high-end offerings while inflation has caused income-challenged buyers to trade down to low-cost F&B products.