There are any number of pressing issues, on the local and national level, that are motivating Americans to vote this year. But the deciding factor for nearly half of voters involves the prices at their local grocery store.
The retail technology company Swiftly gauged shopper sentiment as part of its annual True Cost of a Grocery Shop survey. Normally conducted at the end of each year, this year’s survey was moved up a bit, ahead of banner events like Election Day, Thanksgiving and the winter holiday season.
This year’s survey revealed that shoppers are bracing for higher Thanksgiving prices, adjusting their holiday plans – and deciding whom to vote for, based on how much money they’re spending to put food on the table.
“46% of consumers report that inflation and the rising cost of groceries will be the decisive issue that will shape their voting choices,” Swiftly found. 68% said grocery prices would be a major factor in making their choices. And 75% believe the outcome of the presidential election will directly affect everyday prices – for better, or worse.
In the meantime, when they’re not counting on political leaders to help them out, shoppers are taking matters into their own hands to reduce their grocery bills. 76% are using digital coupons to save, 62% are cutting out non-essentials like snack foods, and 55% make their grocery list based on what’s on sale.
Regardless of the outcome of the election, shoppers are already looking beyond Election Day. 58% of survey respondents expect to spend more on groceries for Thanksgiving compared to previous years. More than half are even considering dining out for the holiday as a cost-cutting measure, figuring that might be less expensive than buying all the fixings themselves. As for the winter holidays, an earlier survey by the retail data analytics company 84.51° found that half of shoppers are concerned about shopping for the holidays this year, with 71% looking to sales, deals and coupons to help them cut costs.
“Grocery prices are influencing not only holiday plans but potentially the outcome of the 2024 election,” Swiftly noted. But there’s only so much that presidents and politicians can do, since the very nature of grocery inflation is that prices of most items will eventually stop rising, but they rarely go back to what they once were.
So for brands and retailers, “this presents a golden opportunity,” Swiftly declared. “Competitive deals and promotions could sway shoppers back into grocery stores for their holiday meals.”
72% of shoppers still prefer their local grocery store to a big-box retailer, online grocer, or delivery service. And 38% are using their store’s app to find the best deals, a 4% increase from last year’s survey. So shoppers’ loyalty is the retailers’ to lose.
“While shoppers are being more selective, they are also showing a willingness to engage with digital tools like coupons, mobile retailer apps, and promotions to save money,” Swiftly noted. So for grocery retailers, “it’s not just about stocking shelves anymore; it’s about creating savings experiences that connect with today’s deal-savvy consumer.”
For grocers and politicians alike, then, Swiftly says addressing elevated grocery prices must be a top priority. “This is more than a seasonal concern,” Swiftly’s report concludes. “It’s an ongoing challenge that’s shaping financial decisions and consumer loyalty.”
And it could shape shoppers’ choices in the voting booth as well. And with less than two weeks to go before we get results, here’s hoping their choices end up matching your own.
Image source: Phil Roeder 
