Consumer survey suggests more penny pinching

National survey shows consumer willingness to pay has declined for all foods, compared with this time last year.

August 23, 2016

1 Min Read
Consumer survey suggests more penny pinching

A new national consumer survey shows after a fickle jump up last month in willingness to pay higher prices for many foodstuffs, consumers are now willing to pay less for all food products compared with one year ago.

The national Food Demand Survey (FooDS) is done monthly by Oklahoma State University to track consumer preferences and sentiments on the safety, quality, and price of food at home and away from home. It puts a particular focus on meat demand. The August survey is now online.

In July the survey noted a slight bump up in consumer willingness to pay for steak, chicken breast and deli ham from the previous month, but that was reversed in the August survey and the entire slate of products continues a decline in consumer satisfaction with pricing compared with this time last summer.

Consumers also said they are spending very similar total weekly amounts on both eating at home and eating out as they did this time last year.

Consumers also said compared with last month they expect slightly higher prices for chicken and pork, and lower prices for beef.

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