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Consumers Globally Trading Down To Cheaper Snacks

November 7, 2022: 12:00 AM EST
New research from GlobalData research finds that consumers worldwide are choosing cheaper snacking options. According to the data, 41 percent of consumers globally traded down to cheaper savory snacks in the third quarter of 2022, whether within the same brand or moving to private label. For chocolate, confectionery and desserts, the proportion was 39 percent. When deciding whether both categories of snacks were good value, consumers listed low price and high-quality products/ingredients as the top factors. Functionality and portion size were next in line. Discounts and promotions were also significant, particularly with chocolate, confectionery and desserts. 
Jessica Broadbent , "A chill, not a freeze: the impact of inflation on indulgent snacks", Just Food, November 07, 2022, © GlobalData
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