Higher supply chain costs are expected to drive up prices in supermarkets by at least 5% in the coming weeks, with more increases to follow.
NamNews Implications:- Time to take a 5% increase for granted...?
- Perhaps some what-ifs re 10% increases in your category might be of benefit?
- More importantly, it is essential to place these inevitable increases within a realistic context of:
- Shell-shocked consumers emerging from the trauma of 18 month lockdown
- To face the uncertainties of job security
- Increased taxation vs lower public services
- A super-savvy consumer better able to calculate ingredient cost in foods
- More determined to demand demonstrable value for money
- At the very least, this will result in a reduction in demand for products that do not have a clear competitive edge over alternatives available
- Welcome to the new norm of consumer demand...
#Inflation #PriceIncreases #ConsumerDemand
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