The holidays bring large increases in food spending for both food at home and food away from home. Consumers’ decisions during this season can have important implications for food manufacturers. Seven in 10 consumers expect food prices to affect their holiday meal plans, according to a new survey. Of those, one in four say they will buy fewer items of less variety and serve less food overall. Some 24.5% of consumers say they will serve less meat. Altogether, 69% of those surveyed as part of the quarterly Gardner Food and Agricultural Policy Survey, conducted in November, said they expected prices to affect their meal plans, up from 61.1% in 2022 and 67.9% in 2023.
The most common ways consumers planned to adapt to high prices were shopping for deals and shopping early. Of those who use any nutrition program, over 82.5% said they expect food prices to affect their holiday meals. These households are more likely to seek out food banks to help manage the costs of their holiday meals, which are struggling to keep up with consumer demand.
The Gardner survey is conducted by specialists at the University of Illinois and Purdue University.
