More than four-fifths of consumers (84%) consider the health and wellness benefits of fresh food despite concern over rising food prices, a new study by Deloitte has unveiled.
The study entitled Fresh Food as Medicine for the Heartburn of High Prices examines the impact of inflation on consumers' food purchases and how fresh food producers and grocers can adapt to drive new opportunities.
The report is based on a survey conducted in July 2022 of 2,054 adults (aged 18 to 70) who influence fresh food purchases in their households.
Arounds 80% of respondents believe fresh food is healthier for them than packaged or processed food marketed as healthy.
More than half (55%) of consumers are willing to pay a premium for food that contributes to their health and wellness.
Daniel Edsall, principal, Deloitte Consulting LLP, commented, "Despite inflation and rising food costs, consumers are willing to pay for fresh food that will positively impact their health and wellness.
"Amid increasing competition, fresh food producers and retailers have the opportunity to introduce consumers to healthy choices and use food as medicine. Grocers who can close the information gap between fresh food and its health outcomes can be better positioned to win over consumers — and compete on aspects other than price."
Impact Of Price Rise
Around 53% of respondents in the study identified rising food prices as the leading cause of stress while shopping.
Nearly half (48%) of consumers find in-store shopping more stressful than last year, up from 40% in 2021, data showed.
The study also showed that for 92% of consumers purchasing fresh food price is the top consideration.
More than nine in 10 consumers (92%) are making significant changes in their buying habits, including switching to private labels. Overall, 38% have moved to own brands, while for consumers in rural areas, the figure stood at 45%.
Additionally, nearly one in five are giving up fresh food items to trade down for cheaper canned or frozen alternatives, the report unveiled.
Jay Bhatt, executive director of the Deloitte Centre for Health Solutions and the Deloitte Health Equity Institute, added, "Using food as medicine is one of the ways consumers can be empowered to take control of their health.
"However, not every household has equal access to or can afford to pay higher prices for fresh, healthy foods, which is a factor that contributes to health inequities and poorer health outcomes."
© 2022 European Supermarket Magazine – your source for the latest A-Brands news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
