Reasons To Shop

The Lempert Report
June 23, 2022

Phil: So in Food Navigator, they did a story about how retailers and brands need to rethink their inventory and promotional strategies to attract and maintain shoppers, retail and food service sales for may served 8.1% from a year ago, but slipped three tenths of a point from April because April was weaker. We talked last week.I think it was last week about target, having to slash prices on their big TVs again, to try to get people in there. But the reality is that all these pundits are saying because of climate change because of gasoline prices, because of labor shortage, it's gonna get worse before it gets better.

Sally: Right? Sadly, we are hearing that, but we're also hearing that, you know, that analysts believe that that consumers do have money. They're just being extra, extra careful on how they spend it, because they're really worried about these prices that are continuing to go up and up and up. So, you know, what, what the recommendation here, what this article in food navigator was talking about is like that, you know, the companies, the retailers and supermarkets, um, have gotta have gotta be a little bit creative on how they create a better experience for people in the store to entice them to come to the store and shop, to run better promotions for people on, you know, like what we were just talking about on fresh fruits and vegetables and foods that, you know, they feel a lot, they feel are valuable that it is valuable to spend a little bit extra on that, on that product.