Reduce visits to the supermarket | finance

The latest study revealed that a decrease in spending on purchasing food and a decrease in weekly visits to the supermarket is the most important change observed in the consumer’s shopping pattern as a result of the inflation spiral and other negative economic factors. Gaither International, Inc.

Adjustments made by Puerto Rican residents to purchase groceries are part of Gaither’s recent Media Brand Profile (MBP) study—which included a sample of 16,579 telephone surveys of an adult population age 18 and older—in which they listened to food consumption trends and household behavior that Facing a difficult economic reality.

“In 2022, 1.7 million people shop in the supermarket per week, which is 147,000 fewer than the same period in 2021. There was a significant impact. The area that lost the most weekly customers is Mayaguez, with its population down by about 31 thousand. person; followed by San Juan with 30,000 and then Caguas with 25,000,” explained Oscar Castillo, Director of Standardized Studies at Gaither.

These numbers match data from consumer radiography at the Puerto Rican Chamber of Food Marketing, Industry and Distribution (MIDA), in which the chair of the committee conducting the study, Richard Valdés, defines the “perfect storm” as a combination of circumstances that worsen the economic situation and that customers Existing spend more, but go to stores less, referring to the inflationary effect.

Gaither’s findings also indicate that the behavior pattern also varies according to the island’s coronavirus positivity rate, as each rise causes weekly sales to decline.

“In the first six months of 2021, there was an increase in purchases, but in every outbreak of Covid-19, we saw how the supermarket class held up. People react to protect themselves, but in 2021 there was still money. Then the help ended. Pandemic unemployment (PUA) and purchases declined, but recovered in September. Then, in the first quarter of 2022, the worst drop in visits was recorded, a catastrophic blow from Omicron,” explained Castillo.

According to the executive branch, when the emergency for the covid-19 variant was controlled, the market recovered, but then the war between Russia and Ukraine began, the cost of gasoline rose significantly, PAN funds were reduced and also increased the interest on bank loans, which led to a decline in the category The supermarket in the number of weekly visits to customers.

The most affected group was the comprehensive plan of action beneficiaries. Weekly shopping trends fluctuate, and people back off and make small purchases, although monthly purchases remain stable. He explained that in the current quarter of 2022, there were fewer people buying from PAN in supermarkets, but other population groups remained stable.

According to the study, in the third quarter of 2022, they purchased a total of 453,000 containers per week, which means a decrease of 123,000, which is 21% less than the results of the second quarter.

All supermarkets affected. Those receiving more PAN people suffer more from lower weekly visits. They take on small purchases to fill up, but customers with higher purchasing power — who pay by other means such as ATH, cash or credit cards — are less affected.”

It was noted that in the current quarter, a total of 418,000 people make weekly purchases visiting two different supermarket brands, and these consumers generally choose chains that are similar in concept and price. A total of 430,000 people check out the weekly “shopper” for specials, with the segment 65 and older as the most used category for planning purchases.

“The more adults, the more likely a person is to look at a ‘shopper.’ As for dissatisfaction in the supermarket, high prices are driving it, followed by speed with poor service due to lack of staff. The most popular day for shopping is Monday,” Castillo said.

In the second quarter of 2022, average consumer spending on prime purchase was $177.85 and $186.60 so far in the third quarter. The filling cost to purchase is $75.67 in the second quarter and $79.65 in the third. According to MIDA, average spending in supermarkets rose 14% to a total of $463 per month.

Consumers control spending

Gaither International also conducted a survey with a sample of 413 participants, focused on consumer strategies to manage budgets in the face of high inflation that makes food, utilities and basic necessities more expensive.

The study revealed that 27% of those surveyed have reduced trips in the car due to the price of gasoline – 32% between 45 and 64 years old – while 23% seek to save electricity by unplugging the appliances and turning off the lights and air conditioners. , where women represent the largest proportion. 22% of those surveyed indicated that they had stopped eating out and 28% of this percentage were between the ages of 45 and 64.

As part of saving strategies, 13% reported spending less at the supermarket and 12% indicated that they stopped joking.

The results also indicate that 12% spend less to save and expand their budget, with the highest population age 65 or older. The same percentage confirmed that they buy only what is necessary, 9% indicated that they did not make adjustments to purchases, while 91% indicated that they did.

It highlights that other consumer strategies for balancing income are getting another job, not visiting stores to avoid buying items such as clothes or shoes, and using a car that uses less gasoline and less use of utilities and outings to the movies.

On the topic of energy, 4% reported that they install solar panels, and in July, 19% indicated that their electric bill had increased between $171 and $250.

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