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How Economic Conditions Are Shaping Food Consumption Trends

Check out this recent article from Bake which discusses how macroeconomic factors are changing the way people spend on food and drink. 

Among the factors shaping consumer behavior are: a.) Economic Transition – Spending surges occurred from 2020 into early 2022 because of economic stimulus packages, and those funds have since dried up; b.) Inflation – Many households are working towards reducing their monthly food spending, with people generally eating at home more frequently and at restaurants less frequently; c.) Income Status – Different income groups are exhibiting remarkably different behaviors.

 

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