CHARLOTTE, N.C., Oct. 13, 2020 /PRNewswire/ -- The pandemic
has reshaped so much of our lives, including the way we shop for
groceries. From how often people shop to how much they spend, to
which products they buy, the COVID-19 crisis has had an impact,
according to a recent LendingTree survey.
Key findings
- American consumers' average weekly grocery spending
increased by 17%, from $163
pre-pandemic to $190 now.
- Nearly a third of respondents (31%) say they "almost always"
overspend at the grocery store. Men (44%) are twice as likely
as women (20%) to exceed their food budget.
- About 4 in 10 consumers say they are going to the grocery
store less often than they did pre-pandemic. However, men (51%)
say they are going grocery shopping more often – women (49%) are
the ones taking fewer trips.
- More than half (53%) of our respondents say they hit up
multiple grocery stores per shopping trip. For example, they
head to wholesale stores for bulk items and then the supermarket
for everyday needs.
- Parents overspend most often, and also shop more frequently
due to the pandemic than non-parents. To make up for it, 54%
are couponing more frequently, and 60% say they visit multiple
stores in search of sales items.
- To cut down on shopping trips, 63% of consumers order food
delivery at least once a week. Generation X orders delivery the
most – 86% do so at least once per week, and of that group, 21% do
so three or more times.
Whether it's due to having more family members at home for every
meal or because consumers tend to panic shop and stock up in times
of crisis, the pandemic has definitely brought with it increased
grocery spending costing households around $100 more a month than before the spread of the
coronavirus. In fact, another LendingTree study found
grocery store spending is up in 49 states.
"The more you plan and avoid impulse purchases, the better off
you'll be," said LendingTree's Chief Credit Analyst, Matt Schulz. "Add in some coupons, watch for
sales, and earn cash back, and you can maximize your grocery spend
even more."
To view the full report, visit:
https://www.lendingtree.com/credit-cards/survey-grocery-shopping-food-buying-pandemic/
Methodology
LendingTree commissioned Qualtrics to
conduct an online survey of 1,052 consumers in the U.S., with the
sample base proportioned to represent the overall population. The
survey was fielded Sept. 18-22,
2020.
About LendingTree
LendingTree (NASDAQ: TREE) is the
nation's leading online marketplace that connects consumers with
the choices they need to be confident in their financial decisions.
LendingTree empowers consumers to shop for financial services the
same way they would shop for airline tickets or hotel stays,
comparing multiple offers from a nationwide network of over 500
partners in one simple search, and can choose the option that best
fits their financial needs. Services include mortgage loans,
mortgage refinances, auto loans, personal loans, business loans,
student loans, insurance, credit cards and more. Through the My
LendingTree platform, consumers receive free credit scores, credit
monitoring and recommendations to improve credit health. My
LendingTree proactively compares consumers' credit accounts against
offers on our network and notifies consumers when there is an
opportunity to save money. In short, LendingTree's purpose is to
help simplify financial decisions for life's meaningful moments
through choice, education and support. LendingTree, LLC is a
subsidiary of LendingTree, Inc. For more information, go to
www.lendingtree.com, dial 800-555-TREE, like our Facebook page
and/or follow us on Twitter @LendingTree
MEDIA CONTACT:
Morgan
Lanier
morgan@lendingtreenews.com
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SOURCE LendingTree.com