“Understanding Consumer Spending Patterns and Sentiments Across Plant-Based and Animal-Based Categories,” Plant Based Foods Institute, 84.51° Real-Time Insights Survey: October 2024.
It’s the economy, stupid. At least, it sure looks that way.
Between 2023 and 2024, 28% of Kroger shoppers who cut back on plant-based meat and dairy products said the pricier picks just no longer fit in their budget — up 12 percentage points (pp) over the previous year. Nearly a quarter (23%) also cited fewer sales and promotions for falling off, another 12 pp increase year over year.
Inflationary prices cut both ways, though, as high prices on…