Grocery shoppers are buying less meat and seeking alternative cheaper alternatives as a result of increased inflation, according to a survey conducted by Bord Bia.
The research was carried out in the final quarter of 2022 across five markets – Ireland, UK, Germany, France and the US, involving 10,000 consumers.
The focus of the survey was to analyse how inflation is impacting people’s food and drink behaviours.
Bord Bia survey
According to the findings, consumers can be split into segments according to their financial stability and outlook for the year ahead.
Over 40% of shoppers remain ‘sensible spenders’, in other words, they are financially comfortable but are cautious. Almost one third (32%) of consumers as ‘just surviving’, i.e., financially insecure and uncertain about the future. This is a major rise from a figure of 13% in 2021.
12% of respondents are considered ‘carefree’ consumers. Overall, almost half of those surveyed considered themselves financially comfortable, while 35% consider themselves financially poor.
The survey reveals that 50% of people are now more focused on only buying essentials, with many people using a shopping list to ensure they only purchase what is necessary.
51% of Irish people surveyed admitted to shopping at multiple stores to get the best deal.
Shopping for meat
According to Bord Bia, to control spending, shoppers are reducing their meat purchases.
Consideration for beef is in decline among shoppers across all the markets over the longer-term, but research has not indicated that alternative sources of protein are making any significant gains.
Sales of lamb are back as it is considered an expensive protein and if impacted by recessionary trends. In Ireland, 32% of Irish consumers are buying less lamb in recent months
Chicken on the other hand is considered the most affordable, flexible, most liked and easy to use in terms of recipes.
69% of Irish consumers expect to spend the same, or more, on their groceries in the next few months.
Eating out vs eating in
Ovverall, global consumers are socialising less with friends and family in recent months (more 21%, less 34%).
The ‘just surviving’ group, in particular, are having to cut back on socialising more than any other group (more 16%, less 46%), while ‘carefree’ consumers
are socialising more overall (more 44%, less 21%).
As budgets get tighter, less money is being spent on food outside of the home, with the majority of global consumers reporting they are eating out less often at restaurants (-62%) and at cafes and casual eateries (-55%).
Two thirds say they are eating out less because prices have increased, while half say it’s because they are working with a smaller budget, meaning their money cannot stretch for these higher priced food moments outside of the home.
Food related behaviours are also changing within the home with almost half (47%) of global consumers buying take-away less in recent months.
It’s perhaps a perceived luxury most are willing to sacrifice on, according to the research. Meanwhile cooking from scratch is holding its own with 41% cooking from scratch more in recent months.
People are also cutting back on ready meals where convenience is not a premium worth paying any more.