Inflation Has Seen Food Prices Rise Rapidly
The recent rise in inflation has left businesses from multiple industries having to raise the prices of products, which has left customers struggling to pay for them.
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Some customers have been spending more than $200 per week on food alone. Many customers have had to cut back on what they would previously buy and only buy the absolute essentials as they cannot afford treats.
How to Cut down on Food Bills
Due to the rising cost of food, among many other things, many people are trying to find ways to cut down the costs of their food bills.
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People can do this by checking what they currently have at home so they only buy what they need, sticking to a meal plan, buying freezer food and making the most of loyalty points.
April’s Dip in Inflation
Prices have been rising rapidly since the COVID-19 pandemic. However, a dip in inflation in April 2024 was welcomed among consumers.
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While prices were still up by 3.4% from the previous year, this is still good news for consumers, as it follows the predicted trend by economists and should hopefully mean that prices start to go down.
Two-Thirds of the American Economy Comes From Consumer Spending
The American economy tends to rely on consumer spending, as spending makes up two-thirds of it. If consumers aren’t spending, the economy goes down.
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The hope is that if store deals help consumers spend more, it will raise the American economy after a disastrous few years.
Amazon Fresh Is Reducing Prices
As another way to help customers cope with rising food prices, Amazon Fresh has announced it will slash the cost of 4,000 items by as much as 30%.
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These prices will decrease on meat, seafood, frozen food, dairy, cheese, beverages, snacks and pasta. These reductions will happen in both online and walk-in stores.
Amazon Fresh Is Investing in Competitive Pricing
Most brands love to be competitive with their prices, and Amazon Fresh is no different. It is planning to cut the prices on its own products and those of national brands.
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In addition to these price drops, the store plans to offer a 10% discount to people with an Amazon Prime membership. This means some customers could save up to 40%.
Amazon Fresh Offers Rotational Discounts
Not all of the same products will be offered every week, as Amazon Fresh is committed to offering rotational discounts on various products.
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This means that customers can expect to see different products on offer at different times, giving them more reason to go into the store or online to see what’s on offer and to take advantage of the discounts.
Savings and Deals Will Be on the Prime Website
The weekly savings and deals will be available for customers to view on the Amazon Prime website, so they can see before going into the store whether the deals are something they can benefit from.
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The store hopes that by offering deals like this and making them rotational, there will always be something for everyone and give them even more reason to take their weekly shopping to Amazon Fresh.
Other Stores Are Offering Discounts
Amazon Fresh isn’t the only store offering discounts over the summer. Other major stores are offering deals to help customers through the summer months.
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Walmart has a one-click summer deal. Customers can choose from shopping bundles that have already been put together and include everything they will need for a summer party.
Store Private Labels Are Offering Massive Discounts
Some stores have even launched private labels that will offer consumers the products they love at a much lower cost.
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Walmart’s private label Bettergoods offers customers groceries under $5. Similarly, Target has launched its private label Dealworthy, which offers customers a variety of products for under $10.
Shoppers Choosing Between Wants and Needs
The latest discounts available in stores come after customers have been forced to choose between their wants and needs, which has also caused stores to operate at somewhat of a loss.
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Stores hope that these discounts and offers will give shoppers a bit more freedom. They can buy everything they need and hopefully have a bit left over to buy some treats.