A recent Midan Marketing Survey confirmed that more than half of shoppers surveyed have reduced expenditure and changed buying habits as a result of food inflation. The price of gasoline exceeding a national average of $4.50 per gallon in mid-May with regionally record-high prices is considered to be the driving factor for changes in purchasing patterns.

Expensive cuts of red meat appear to be the most affected with a downward progression from steak to hamburger.  There is also replacement of beef by pork with chicken benefiting from selection based on protein value.  Eggs will be the obvious winner based on relatively low price per unit of protein, a factor that could be stressed by the American Egg Board.  Although egg prices have been unseasonably high due the depletion of as many as 30 million laying hens, price will decline as replacement flocks commence production.  During the week ending May 16th egg prices fell by 11 percent and then by an additional 15 percent in the succeeding week, continuing the downward trend.

The Midan Marketing Survey showed that 54 percent of shoppers are willing to purchase approximately the same quantity of food as during the immediate post COVID period although individual choices in the basket will favor value.  One-third of those surveyed indicated that they would purchase less food contrasted by 13 percent who may purchase more groceries.

It is considered significant that three quarters of respondents considered the price of red meat as being “too high”.  Health considerations motivated 17 percent of shoppers with regard to their protein with 15 percent concerned over additives including “hormones” and antibiotics.  Thirteen percent, presumably the affluent, considered quality over quantity in their purchase decision.  It is noteworthy that only 9 percent of respondents favored plant-based products presumably motivated by concerns over sustainability.  Welfare considerations only influenced 9 percent of shoppers.

The survey was carried out with the reality that the April 2022 Consumer Price Index was up by 8.3 percent compared to April 2021 with the food component higher by 9.4 percent.  There appears to be a growing gap between the cost of home preparation of food at approximately 11 percent and restaurant meals up a more modest 7 percent.  Notwithstanding this difference, home cooking increased sharply during COVID restrictions with a continuing trend. This will again benefit consumption of eggs that hopefully will find a place in lunch and dinner meal times and snacking in addition to breakfast.