Sago's 2024 Shopping Habits and Inflation Report uncovers significant shifts in consumer behavior due to inflation.
Sago’s latest read on consumers, detailed in its 2024 Shopping Habits and Inflation report, shows how households respond to higher prices. The research revealed that 75 percent of households “are significantly impacted by inflation, leading to major shifts in shopping habits,” a Sago spokeswoman told WWD, adding that the company’s findings also revealed that 79 percent of consumers “are now hunting for the best deals, with 63 percent turning to private label brands.
Sago’s consumer research also showed that younger demographics have been “slightly more” impacted by inflation as “almost half of those under age 54 report feeling a significant impact, compared to 38 percent of those over 55.” When asked which categories had the highest inflationary price points, 86 percent said it was groceries, “eclipsing increases inRegarding trust, 46 percent of those polled said they distrust brands to set fair prices and 71 percent said brands should disclose price hikes.
The topic of inflation has become a key point in this year’s presidential election. In a recent news conference, Donald Trump, former president and current presidential candidate, said if elected, he would spend his first day back signing “an executive order directing every Cabinet secretary and agency head to use every tool and authority at their disposal to defeat inflation and to bring consumer prices rapidly down.
Kamala Harris, vice president and presidential candidate, presented an economic platform that includes financial assistance for first-time home buyers and a tax credit for parents of newborns as well as bans on price gouging at grocery stores to battle inflation.Eva Longoria Embraces the Sheer Trend in Sequined Alberta Ferretti Gown at AmfAR Gala in Venice. We use vendors that may also process your information to help provide our services.
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