Lower-income households are increasingly forced to buy less food, signaling deeper financial strain.
Nearly half of Americans are struggling to afford food, according to an analysis by LendingTree.
Most people have changed their grocery shopping habits and how often they eat out at restaurants as prices of everyday items remain stubbornly high.
By the numbers:LendingTree
More than half of Americans (52%) are spending more on food this year compared to last year and 49% said it is at least somewhat difficult to afford food right now.
Dig deeper:For more Americans, grocery shopping has turned into a strategic visit, according to LendingTree.
More people (nearly 90%) are becoming mindful of what they buy, creating lists and using coupons or even waiting for sales at the grocery store.
What to expect
About 16% said they now take trips to several different stores to save a little on spending.
The other side:Lower-income households did not report much change in their spending habits at the grocery store, according to LendingTree, but they are among the most likely to say they are buying fewer items.
"This points to a concerning trend: Many low-income households may already be using common cost-cutting strategies -- and are now reducing food purchases because they can't trim costs further," LendingTree said.
Reading between the lines
A majority of Americans are cutting back on going out to eat and getting delivery.
Broken down, about 39% of people have said they are eating out less and 16% have said they stopped getting food delivered to the house.
If the opportunity to go out to eat does arise, most people have opted for cheaper restaurants or fast food.
An interesting habit that is also trending for some Americans is eating at home before going out for a smaller meal, LendingTree noted.
What you need to know
Sixty-six percent of Americans have said inflation has changed how they tip.
This points to a concerning trend: Many low-income households may already be using common cost-cutting strategies -- and are now reducing food purchases because they can't trim costs further.
Reading the wider picture
Retail decisions rarely happen all at once. What looks like a sudden change of direction is usually the visible end of months of testing, costing and quiet negotiation behind the scenes.
What to remember
- Lower-income households are increasingly forced to buy less food, signaling deeper financial strain
- Nearly half of Americans are struggling to afford food, according to an analysis by LendingTree
- Most people have changed their grocery shopping habits and how often they eat out at restaurants as prices of everyday items remain stubbornly high
- More than half of Americans (52%) are spending more on food this year compared to last year and 49% said it is at least somewhat difficult to afford food right now
- For more Americans, grocery shopping has turned into a strategic visit, according to LendingTree
The bottom line
None of this settles the wider question. It does make one thing harder to ignore: the pressure in the food industry has shifted, and others will have to respond to it.