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.