No more discounts: grocery stores are canceling promotions to make up for stock shortages
Major grocery stores are getting rid of this right now, BestLife reports.
Buying groceries over the past two years has been a daunting task.
The COVID pandemic has not only made it difficult for people to leave their homes and put them at risk in overcrowded grocery stores, but also contributed to massive shortages of a range of foods, from various foods to basic necessities like toilet paper.
At the same time, some major grocery stores have banded together to deliberately remove certain items from the shelves amid controversy. Now several stores are getting rid of the next product on the shelves.
Grocery stores are getting rid of orders due to supply chain problems.
If you are hoping to buy supplies the next time you go grocery shopping, you might be disappointed.
Many stores and chains have reportedly confirmed that they are limiting discounts and promotions to keep items from selling out even faster due to supply chain issues.
Orders at both Bristol Farms and New Seasons Market have declined recently, according to Neil Stern, chief executive of Good Food Holdings LLC, which operates the two grocery chains among other West Coast retailers.
According to executives, it is easier for buyers to replace products or change brands when one particular product does not have massive advertising.
Promotions are not expected to resume until Thanksgiving.
Don't expect to buy a Thanksgiving turkey.
IRI, a data analysis and market research company, said that while advertising activity already reflects a scarcity, it is unlikely to improve anytime soon.
The agency says retailers are expected to run 1-9% fewer promotions on Thanksgiving food items.
“Buyers should expect lower promotions and a lack of familiar brands. Retailers will have less incentive to advertise this year given strong demand and low inventory levels, IRI said. “As a result of difficult accessibility, lower promotions and ongoing inflation, shoppers may need to replace items in key Thanksgiving categories (such as replacing frozen desserts with fresh ones) or try to find their favorite items in other stores.”
Food prices are also rising.
You should expect not only decreased purchases, but higher prices as well.
According to the latest data, shortages, transportation, weather and labor problems have all driven up food prices over the past year.
On October 14, the Labor Department reported that wholesale-level inflation this year was 8,6% higher compared to September 2020, the largest annual increase since the department began counting that number in 2010.
And because grocery stores pay more for food, they charge customers higher prices.
“History shows us that price adjustments are more likely to be accepted in the market when there is industry-wide production cost inflation,” said David Marberger, CFO of Conagra Brands, one of the world's largest food companies. that the increase in food prices will not be a short-term phenomenon. ”
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Phil Lembert, food analyst and editor of SuperMarketGuru.com, said customers have not really “noticed anything yet” in terms of rising food prices. “Prices will continue to rise for a year and a half,” he warned.
According to Lember, the greatest growth that buyers should expect will likely be in animal products, “be it eggs, milk, pork or beef.”
According to the latest data, the cost of meat, poultry, fish and eggs has already increased by 5,9% compared to 2020 and by 15,7% compared to prices in August 2019.
And do not expect that the rise in prices will stop in the near future.
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