TORONTO – The troubled global economy is affecting consumers everywhere and this isn’t good news for meat, poultry and allied industries. In Ontario, for example, supermarket chain Metro recently released its Food-Life Balance survey, which indicates 74% of Ontarians are dining at home more often to reduce household expenses. These findings show consumers want their hard-earned dollars to go farther and get them more value.
The Food-Life Balance Survey also reveals 64% of grocery shoppers in Ontario are favoring less expensive meal ideas, such as spaghetti over steak. In addition, grocery store private-label brands continue to be attractive to 62% of value-conscious consumers.
"A heightened sense of economic uncertainty is leading consumers to be much more value-conscious than in recent memory," said Sean Simpson, research manager of Ipsos Reid Public Affairs, who supervised the survey. "The need to stretch dollars for essential, everyday purchases like food is the new economic reality."
Metro Ontario Inc. operates 272 stores under three conventional banners, Metro, A&P and Loeb and under one discount banner, Food Basics.
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