Americans Are Still Stocking Up On Groceries
American shoppers are sticking with the bulk-buying habits they picked up during the early days of the pandemic as supply chain issues and fears of low levels remain in the marketplace.
The Wall Street Journal reported that sales at bulk chains Costco Wholesale Corp., Walmart Inc.’s Sam’s Club, and BJ’s Wholesale Club Holdings Inc. went up 26.6% in dollars and 18% in volume during 2021’s fourth quarter when contrasted with the same time period in 2019, according to IRI, which keeps track of home product utilization.
IRI found that the “average annual growth in sales by volume of food and beverages was 3% in 2020 and 2021, compared with just 0.5% average annual growth for the prior 10 years,” per the Journal.
Customers are also purchasing bigger product sizes. The “average volume per unit was up 2.1% last year compared with average sizes in 2019, IRI figures show.” IRI projected that consumption will probably go down this year from the previous year, but it reportedly noted that the amounts of household product and food consumption will nevertheless be double the numbers from before the COVID-19 pandemic.- READ MORE
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