October 13th, 2023, Lesley Simeon
The otherwise humble task of shopping for groceries has been a headline-favorite in recent times, courtesy of rising grocery prices. Although food costs have dropped in some parts of the world, do consumers expect to spend more money on groceries in the coming months?
A recent YouGov survey asked consumers across 17 international markets about which products they expect to spend more money on in the coming months. More than two in five (46%) consumers across markets expect to spend more on groceries. Utilities follow at a distant second (31%).
Consumers across markets are least likely to increase spend on video games (6%) and streaming subscriptions (8%).
Let’s now look at how likely consumers across countries are to spend more on groceries in the coming months.
Canada leads with largest share of consumers who expect to spend more on groceries
Nearly three in five (59%) consumers in Canada say they expect to increase expenditure towards groceries, closely followed by Australia (58%).
Over half of all consumers in France (54%), Great Britain (53%) and the US (51%) are of the same opinion. Notably, average food prices dropped in Britain last month - for the first time in two years.
In Asia, Singapore (47%) accounts for the largest proportion of consumers who expect to spend more money on groceries in the coming six months. Hong Kong (46%) and India (44%) follow. On the other hand, Indonesia (42%) accounts for the smallest.
A significant proportion of consumers in UAE (45%) expect to increase grocery expenditure.
As for Europe, at least two in five consumers across all our markets expect to shell out more towards their grocery bills, with the exceptions of Germany and Sweden. Consumers in Germany report a seven-percentage point advantage (32%) over bottom placed Nordic market, Denmark (25%). More than a third (35%) of consumers in our other Nordic market, Sweden, say they expect to spend more money on groceries in the next six months.
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Methodology: YouGov Surveys: Serviced provide quick survey results from nationally representative or targeted audiences in multiple markets. The data is based on surveys of adults aged 18+ years in 17 markets with sample sizes varying between 509 and 2003for each market. All surveys were conducted online in July2023. Data from each market uses a nationally representative sample apart from Mexico and India, which use urban representative samples, and Indonesia and Hong Kong, which use online representative samples. Learn more about YouGov Surveys: Serviced.
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