US grocery unit sales fell by nearly 2% year-over-year in June, marking the fifth consecutive month of declining volume. According to a new analysis from Bain & Company and NielsenIQ, unit sales declined 1.8% in June, 1.9% in May, and 2.2% in April. With 8 in 10 US consumers trying to spend less due to rising gas prices, steady grocery inflation, and reduced SNAP participation, is this a temporary blip or a long-term volume contraction?
We break down why shoppers are tightening their wallets and shifting to wholesale clubs like Costco and Sam's Club, and why true deflation might be the only way to buck the trend.
