C RY D E R
P O I N T
NOBEMBER 16
FOOD PRICES: WHY THEY’RE RISING AND HOW TO SAVE
(BPT)–The COVID-19 pandemic has
affected food prices more than nearly
any other part of the household budget.
In April, the Food-at-Home Consumer
Price Index increased 2.7%, which was the
largest monthly jump since 1974. From
June 2019 to June 2020, food prices are up
5.6%. Why is this happening, and furthermore,
how can you save on your family’s
grocery bills?
THE FOOD SUPPLY
CHAIN AND PRICE
FLUCTUATIONS
The food supply chain is made up of
three parts: production, processing, and
retail. As food items move down the supply
chain, value is added to the product.
• Production incudes the farms and
ranches that grow the food.
• Processing entails the manufacturers
that turn food from the farm
into consumer-ready options such
as corn flakes or orange juice.
• Retail includes the stores where
shoppers purchase different food
items.
There are several factors that regularly
influence food prices such as weather,
farming production, growth in the population
and trade. Sometimes there are
shocks to the food supply chain that
have big influences on prices, such as the
COVID-19 pandemic.
COVID-19 FACTORS’
INFLUENCE ON FOOD
PRICES
As communities quickly responded to
the COVID-19 pandemic, every stage of
the food supply chain saw costs increase.
There are four key trends that are influencing
food costs:
Shift to eating at home
In a matter of two months, approximately
$23 billion in consumer spending
away from home was redirected toward
grocery stores as restaurants were forced
to close due to COVID-19, according to
FMI–The Food Industry Association.
Loss of foodservice demand
When restaurants closed, farmers and
ranchers lost a key channel for their
product. With fewer buyers, it is costly or
impractical to harvest, preserve or store
some food and beverage products.
Increasing production and processing
costs
During COVID-19, companies have
made investments and adjustments to
safeguard their products and employees.
This means costs for food production are
higher. Some manufacturers have been
able to innovate and find new markets for
their products, but these changes often
entail added costs.
Increasing operating costs for grocery
stores
16 CRYDER POINT COURIER | NOVEMBER 2020 | WWW.QUEENSCOURIER.COM
Compared to 2019, supermarket operating
costs were up 7.9% in April 2020 and
6.7% in May 2020, according to USDA
Economic Research Service. Grocery
stores have remained open during the
pandemic and have had to quickly adjust
to new regulations, safety and sanitation
practices and enhanced customer education–
all requiring resources. In addition,
some areas of the grocery store, including
salad bars and hot bars, have had to shut
down, meaning a loss of revenue.
HOW YOU CAN SAVE
MONEY AT THE
GROCERY STORE
The experts at FMI–The Food Industry
Association–predict food prices may remain
high for a while but stress the food
supply chain is resilient and is likely to
normalize over time. Regardless, there
are ways shoppers can save money while
at the store:
Plan ahead
Planning meals and snacks for the week
before heading to the grocery store helps
ensure you only purchase what you need.
Use a shopping list or app to help stay organized.
Check your store’s circular, website
or app for coupons and specials ahead
of time.
Compare options
Consider purchasing store brands, usually
priced less and with equal taste and
nutrition. When possible, purchase bulk
protein options for freezing extras. Compare
unit prices of different brands and
package sizes to save. The “unit price” is
the price per ounce, pound or pint, and is
typically listed on the shelf tag. Canned or
frozen food options can have an extended
shelf-life and help stretch your dollar.
FOUR WAYS TO MAKE HOLIDAY SHOPPING A BREEZE THIS YEAR
(BPT)–This year more than ever, we’re all ready to kick
back and enjoy a relaxing holiday season. Shopping online
is a great way to get your shopping done safely and
conveniently this year–in fact, the majority (59%) of holiday
shoppers plan to shift more of their shopping online
compared with last year, according to the National Retail
Federation’s annual consumer holiday survey.
Whether you love the thrill of holiday shopping or are
usually more of a gifting procrastinator, here are a few
simple strategies you can apply to your online shopping
that will have you checking holiday errands off your list
in no time, leaving you more time to celebrate with family
and friends this year.
1. Make a list (and check it twice)
First, make a list of those people in your life that you
want to delight with a special gift this year. Next, create a
workable budget for your gift shopping as a whole, then
break down that budget per person, deciding who you
might want to splurge a little more on this year, versus
those that might be just as happy with something simpler.
That way you’ll know what you can afford before your list
gets away from you.
2. Start early
No need to wait until Black Friday this year to score
incredible deals on everything you need this season. Beat
the holiday rush by taking advantage of early savings and
deals, so you can stress less and get on to enjoying the
season. Amazon is kicking off the holiday shopping season
earlier than ever with its Holiday Dash deals event,
bringing Black Friday deals and discounts to all customers
earlier than ever.
With new deals dropping every day, you can shop with
confidence that you’re getting Black Friday-worthy deals
and incredible savings on a huge selection of products,
making it easy to check everyone off the gift list earlier
than ever. Best of all, online shopping means everything
is delivered quickly and safely–helping you save even
more time and money by not having to visit multiple
stores.
3. Let gift guides do the work for you
Need gifting inspiration? If you’ve got your list
and budget together but are stuck on a few ideas, gift
guides are the perfect place to start. Amazon’s holiday
gift guides are easily sorted by things like price, age
and areas of interest, so you can find something for
everyone on your list, no matter the budget–just go
to amazon.com/gifts. Still stumped? Let Alexa do the
work for you by asking things like “Alexa, give me gift
ideas under $50,” for more gifting inspiration within
your budget.
4. Get more for your dollar with easy saving hacks
For many, budgets are tighter than ever this year–in
fact, a recent survey conducted by Accenture showed
that nearly 1 in 4 are cutting holiday spending because of
a tough year–making it more important than ever to get
more for your holiday dollar.
Luckily, in addition to scouting out early holiday deals
there are some easy ways to get the best bang for your
buck throughout the whole season. Check out Amazon
Coupons for special offers that are updated frequently on
thousands of products–all without the hassle of clipping,
and set up the Amazon Assistant to easily monitor and
compare prices on all the products you want, so you can
be sure you are getting the best deals on all the best gifts.
Or check out some of Amazon’s lesser known options,
like Amazon’s Renewed Deals, where you can discover
professionally inspected pre-owned, refurbished and
open-box products.
Follow these tips and you’ll feel more prepared than
ever going into the holiday season!
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