Retailers, consumers and prices
Check out the latest poll on affluent consumers’ spending habits.
Affluent consumers around the world may be worried about the economy, but they are still spending on items they value most: food, wine and dining out, according to a study released by HSBC Global Pulse.
Seventy-two percent of those polled said the amount of wine they drank had not changed in the past year, while 67 percent said their spending on wine was unchanged, HSBC said.
Meanwhile, 73 percent still dine out nearly once a week and 39 percent still eat at restaurants at least three times a week, according to the study.
Of those polled, 80 percent have household income above $100,000 and 19 percent are above $250,000, according to HSBC. Fifty-seven percent are college grads and 43 percent have post-graduate degrees.
This year’s All Things Organic conference and expo showcased necessity as the mother of invention. Slumping sales and a weak economy have forced the industry to innovate just to hold onto customers.
In a 2009 briefing on the organic packaged food market, Euromonitor International said the largest threat to the future growth of organic products is price sensitivity among U.S. consumers in the current economic climate.
Natural and organic food grocer Whole Foods will sell 13 stores as part of a settlement that ends an antitrust battle with U.S. regulators over its acquisition of rival Wild Oats.
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7133 N. Oracle Rd., Tucson, AZ
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(Photo\Mike Blake, Reuters)
Food prices are on their way to posting their biggest increase in nearly 20 years and it’s not just the average consumer who is feeling the pain.
Whole Foods Markets Inc, the upscale supermarket chain known for selling natural and organic food to an affluent clientele, has rolled out programs to show consumers how to budget shop at its stores.