Supermarket Perimeter - June 2024 - 8

Closing
the gap
Fighting high food prices - and misinformation about them
By Andy Nelson
P
Takeaways
» Prices remain stubbornly
high for many fresh foods
» Shoppers don't think
stores are doing enough
to lower prices
» Stores are also fighting
a perception battle with
consumers over prices
rice inflation has hit consumers and all
food channels hard.
It' a problem measured not just in
dollars and cents, but in perceptions, expectations
and communication - or the lack thereof.
Retailers who figure out not only how to ease
sticker shock for shoppers, but also to let them
know they're on their side, stand much to gain.
" There's a significant information gap
between supermarkets and shoppers, " said Brian
Numainville, principal of market analyst the
Retail Feedback Group. " It's evident that there is a
need for enhanced communication and support
during these economically challenging times. "
The Retail Feedback Group recently completed
research on this very topic.
What the firm found is that when shoppers
were asked to rate whether their primary
supermarket is on their side when it comes
to inflation, and if their store is good at
communicating why product prices have risen
in the past few years, they said stores have
work to do.
In both cases, on a 5-point " agreement scale, "
shoppers gave supermarkets relatively low scores
of 3.23 and 3.01, respectively.
" Clearly shoppers believe supermarkets
could do more in terms of supporting them
when it comes to fighting inflation, as well
as communicating why product prices have
increased, " Numainville said. " This is especially
important in light of the inaccurate profit
8 - JUNE 2024
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Supermarket Perimeter - June 2024

Table of Contents for the Digital Edition of Supermarket Perimeter - June 2024

Supermarket Perimeter - June 2024 - Intro
Supermarket Perimeter - June 2024 - FC1
Supermarket Perimeter - June 2024 - FC2
Supermarket Perimeter - June 2024 - 1
Supermarket Perimeter - June 2024 - 2
Supermarket Perimeter - June 2024 - 3
Supermarket Perimeter - June 2024 - 4
Supermarket Perimeter - June 2024 - 5
Supermarket Perimeter - June 2024 - 6
Supermarket Perimeter - June 2024 - 7
Supermarket Perimeter - June 2024 - 8
Supermarket Perimeter - June 2024 - 9
Supermarket Perimeter - June 2024 - 10
Supermarket Perimeter - June 2024 - 11
Supermarket Perimeter - June 2024 - 12
Supermarket Perimeter - June 2024 - 13
Supermarket Perimeter - June 2024 - 14
Supermarket Perimeter - June 2024 - 15
Supermarket Perimeter - June 2024 - 16
Supermarket Perimeter - June 2024 - 17
Supermarket Perimeter - June 2024 - 18
Supermarket Perimeter - June 2024 - 19
Supermarket Perimeter - June 2024 - 20
Supermarket Perimeter - June 2024 - 21
Supermarket Perimeter - June 2024 - 22
Supermarket Perimeter - June 2024 - 23
Supermarket Perimeter - June 2024 - 24
Supermarket Perimeter - June 2024 - 25
Supermarket Perimeter - June 2024 - 26
Supermarket Perimeter - June 2024 - 27
Supermarket Perimeter - June 2024 - 28
Supermarket Perimeter - June 2024 - 29
Supermarket Perimeter - June 2024 - 30
Supermarket Perimeter - June 2024 - 31
Supermarket Perimeter - June 2024 - 32
Supermarket Perimeter - June 2024 - 33
Supermarket Perimeter - June 2024 - 34
Supermarket Perimeter - June 2024 - 35
Supermarket Perimeter - June 2024 - 36
Supermarket Perimeter - June 2024 - 37
Supermarket Perimeter - June 2024 - 38
Supermarket Perimeter - June 2024 - 39
Supermarket Perimeter - June 2024 - 40
Supermarket Perimeter - June 2024 - 41
Supermarket Perimeter - June 2024 - 42
Supermarket Perimeter - June 2024 - 43
Supermarket Perimeter - June 2024 - 44
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Supermarket Perimeter - June 2024 - 46
Supermarket Perimeter - June 2024 - 47
Supermarket Perimeter - June 2024 - 48
Supermarket Perimeter - June 2024 - 49
Supermarket Perimeter - June 2024 - 50
Supermarket Perimeter - June 2024 - 51
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Supermarket Perimeter - June 2024 - 53
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Supermarket Perimeter - June 2024 - 62
Supermarket Perimeter - June 2024 - 63
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Supermarket Perimeter - June 2024 - 73
Supermarket Perimeter - June 2024 - 74
Supermarket Perimeter - June 2024 - 75
Supermarket Perimeter - June 2024 - 76
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