What will happen this time around? Some of the price increase is due to short-term supply chain disruptions and the COVID-19-driven shift from services to products, but even if partially temporary, clearly consumers are facing the first significant inflationary environment in generations.
How will consumers react to continued price increases? And what are implications for the food and foodservice industries? To explore the impact of inflation more deeply, Lazard and CH Consulting Advisors fielded a consumer pulse of 1,000 U.S. consumers on how they plan to deal with inflation in the food and restaurant categories. The results suggest that manufacturers and operators need to prepare for consumers trading down and purchase volume declining, even in premium categories.
Download the review to read the findings in full.
