From buying half a cow to watering down soap, people are experimenting with frugality—and it is affecting sales at consumer companies
I have done several posts on how people have been dealing with the inflation of the last few years as well as how they have been affected. Those are listed after some excerpts from the article. Many of the things consumers are doing involve more time and effort doing things they would not normally do. This is one of the costs of inflation, what we have to do to avoid it or mitigate it.
Excerpts:
[One woman] "added water to her Dawn dish liquid and her Clorox floor cleaner. She stopped buying aerosol glass cleaner and replaced it with a bottle of Windex so that she could add water to make the solution last longer."
"some are shopping at less expensive grocers and buying pantry products on Facebook Marketplace. One consumer sought to save on beef by buying half a cow."
"Procter & Gamble reported volume declined 2% in the latest quarter in its home and fabric-care division, which includes brands like Tide detergent, Dawn dish liquid and Swiffer dusters. Meantime, private-label brands that make cheaper generics haven’t seen a corresponding increase"
"suggesting consumers are using up their inventory and making their existing stock last longer, rather than trading down."
[One man] "has taken other steps to save. On Facebook Marketplace, he tries to buy more overstock, such as cans of P&G’s Febreze room spray that he purchases at bargain-basement prices. He scours the internet for good deals on other items—usually checking out at BJ’s or Aldi. Breaking with his habit of buying packaged beef at supermarkets like Whole Foods, he recently connected with a farmer in North Carolina and bought half a cow."
See also Grocery Prices Keep Rising. Frustrated Consumers Are Trying to Adapt.: Record beef prices and coffee that costs $1 more per pound since May have shoppers cutting back on some foods, stockpiling others by Christopher Kuo of The WSJ. Excerpts:
"Inflation in the grocery aisle is picking up, and stinging consumers. Consumers said they are cutting back on purchases, stockpiling certain foods or exploring more-affordable stores."
"shoppers were choosing smaller package sizes and using more coupons to reduce their grocery bills."
"consumers, especially in low- to middle-income households, are shopping more strategically—making more-frequent trips with fewer items in a basket."
Related posts:
Are you hurting the economy if you bring your lunch to work? (2025)
More people are bringing their lunch to work because restaurant meals have been going up in price. Again, more tasks that people are performing to avoid inflation
Child Care, Rent, Insurance: Where Inflation Hits Hardest Now (2024)
Why do workers dislike inflation? (2024)
"workers must take costly actions (“conflict”) to have nominal wages catch up with inflation" They have to bargain with or fight their employers to get a wage increase to match inflation.
An Increase in Uninsured Drivers Is Pushing Up Costs for Everyone Else (2024)
Inflation has caused consumers to choose what they need to cut back on (insurance)
Costco and Sam’s Club Aisles Are Full of Gen Z Shoppers (2024)
Consumers are buying in bulk to save money by getting a lower per unit price
Inflation is mentally taxing (2024)
Inflation is mentally taxing. Dealing with a straitened budget exacts a psychological toll as well as a financial one
Store Brands Are Filling Up More of Your Shopping Cart (2024)
People are on the look out for cheaper alternatives due to inflation
Consumers Fed Up With Food Costs Are Ditching Big Brands (2024)
After
years of price increases, food companies say more consumers pull back;
fast-food chains and snack makers plan new deals and flavors
Are Americans Worrying Too Much About Inflation? Two opposing views (2024)
The Era of One-Stop Grocery Shopping Is Over (2024)
One
thing that I always talked about with inflation was that one of its
costs was all the things we had to do to avoid it. Consumers are making
8% more trips to different retailers as inflation continues to upend
household budgets. They are going to more stores to find lower prices.
But it costs time to do that and probably more money on gas.
When workers were paid twice a day and given half-hour shopping breaks (Germany, 1923)
By mid-1923 workers were being paid as often as three times a day. Their wives would meet them, take the money and rush to the shops to exchange it for goods. However, by this time, more and more often, shops were empty. Storekeepers could not obtain goods or could not do business fast enough to protect their cash receipts. Farmers refused to bring produce into the city in return for worthless paper. The requirements to calculate and recalculate commercial transactions in the billions and trillions made it practically impossible to do business in paper Marks.
