Tagged 'food prices'

Soaring food prices drive more anxiety among women than men

Global Anxiety Drivers

According to recent forecasts, food prices are set to see the biggest increase in more than three years as a result of worldwide drought conditions. Experts believe that prices may rise by as much as 3.5 percent by the end of 2014, whereas individual produce items might see even larger increases (for example, the cost of lettuce could increase by 34 percent). Data from our most recent global AnxietyIndex study reveal that higher prices at the grocery store may cause women more anxiety than men: Across the 27 markets we surveyed, things that impact us closer to home—including food prices—are more likely to drive anxiety among women than men. Nearly 2 in 5 women already feel “very anxious” about the cost of food.

Brands in these categories will need to help women navigate this anxiety through messaging, products and tools that address their concerns head-on and help them manage their budgets.

mySupermarket targets price-sensitive consumers with one-stop shop across retailers

mySupermarket copy

We recently posted about hypermarket chain Leclerc and its price-comparison site Quiestlemoinscher.com (“who is the less expensive”), a popular tool for French shoppers. With consumers in many markets anxious about the cost of everyday goods and exceedingly price-sensitive, shoppers are ever more apt to research the lowest-price options. In response, mySupermarket aims to “bring price transparency to the shopping experience and help you shop smart.” The online-shopping service launched in 2006 in the U.K., where it claims 2.9 million registered users, and is now expanding to the U.S.

In the U.S., the service lets shoppers choose among staples sold by eight major retailers (Amazon, Walmart, Target, Soap.com, Diapers.com, Drugstore.com, Walgreens and Costco), alerting users when they can save further by choosing a different size or alternative product. Shoppers check out via mySupermarket, which “optimize[s] your cart to get you free shipping,” according to a promotional video. According to TechCrunch, the company is also planning a mobile app that would notify shoppers about relevant promotions when they’re in stores.

While many brick-and-mortar retailers are fretting about showrooming, it’s a trend that generally hasn’t applied to supermarkets—but they’re still vulnerable in the face of new digital tools that give consumers more workarounds and comprehensive data. At the same time, however, marketers might find opportunities here: The company told TechCrunch that its app will enable brands to communicate with opted-in consumers—for instance, alerting them to price decreases on favorite items or sending a reminder to stock up on various staples.

Photo Credit: mySupermarket

What’s keeping the world up at night? Anxiety around the globe in 2 minutes

For the latest installment of JWT’s AnxietyIndex, we compared levels of anxiety across 27 markets, as well as the drivers of that anxiety. Using SONAR™, JWT’s proprietary online research tool, we surveyed people in Western Europe (Finland, France, Germany, Italy, Spain, the U.K.), Eastern Europe (the Czech Republic and Russia), the Middle East and Africa (Egypt, Pakistan, Saudi Arabia, South Africa), North Asia (China, Hong Kong, Japan, South Korea), South Asia (Australia, India, Indonesia, Singapore, Thailand), North America (Canada and the U.S.) and South America (Brazil, Argentina, Colombia, Mexico).

This animation highlights some of our topline findings. Watch for a report on our findings in the coming weeks.