Food prices – Austrian customers feel ripped off

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Mr and Mrs Austrians currently view inflation as much higher than it actually is. The current price situation in the food trade is described as a rip-off by the majority of Austrians.

This is the result of current market research. It does not matter whether the respondents are young (20 to 35 years) or old (55 to 70 years).

However, reality and feelings are not always the same. In our own perception, typical purchases have become 30 percent more expensive since last summer. According to Statistics Austria, the increase in the ‘mini shopping cart’, which tries to reflect the weekly shopping, is only 4.2 percent year-on-year.

When it comes to vegetables, fruit, meat, sausage products, cheese and pastries, respondents have the impression that they have to dig particularly deep into their pockets. Interesting detail: Given the many reasons for the high inflation rate, people would even understand cost adjustments and accept an inflation rate of 13 percent.

Customers are increasingly purchasing special offers
Inflation influences purchasing behavior and encourages price comparisons. In addition, special offers are being purchased more and more often. However, there are also products for which customers spend more money (see graph above). “The increased awareness of sustainability means a significant change for retailers,” explains market agent boss Thomas Schwabl.

Well-known brands are also important for the boys. They are even willing to accept a price increase of 17.9 percent. By comparison, it would only cost 12.4 percent more to avoid questionable ingredients. Günter Thumser, director of the branded goods association: “Brands that combine authenticity, sustainability and technological innovations will be the most successful in the future.”

Source: Krone

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