Food inflation has led a large percentage of consumers to adjust how they budget for food purchases. Checkoff research conducted in 2008 and again in 2011 demonstrated that frugal shopping behaviors have been widely adopted and are affecting beef purchasing decisions.
Consumers are reacting to the pressure of high prices at the pump, economic uncertainty and escalating food costs and one of the most common methods to cut household costs is to reduce food expenses.
This study revealed that price sensitive consumers view steak as an expensive food and it often is at the top of the list for cut backs to reduce food expenses.
To read the rest of the story, please go to: The Beef Checkoff