Nearly half of consumers say inflation, grocery prices will impact voting decisions
Inflation and the cost of food are on the top of voters’ minds just weeks away from the 2024 U.S. presidential election.
That’s according to a new survey from retail media platform Swiftly, which reveals that 75% of respondents believe that the outcome of the election will directly affect everyday prices, while 68% say grocery costs and inflation are major factors in deciding whom to vote for. Nearly half (46%) of consumers report that inflation and the rising cost of groceries will be a decisive issue that will shape their voting choices, and 70% of consumers are struggling to afford their groceries.
“Politicians and retailers alike are under increasing pressure to address these concerns, especially as voters head to the polls,” said Swiftly. “The significance of grocery prices in shaping election choices signals a broader issue that can’t be denied — Americans are increasingly feeling the weight of inflation in their daily lives.”
[READ MORE: Report: Despite rising budgets, daily inflation to impact holiday spending]
With Thanksgiving looming after the election, nearly six-in-10 (58%) Thanksgiving shoppers expect to spend more on groceries compared to previous years. Rising costs have even led 56% of consumers to consider dining out for Thanksgiving instead of preparing a home-cooked meal.
To combat high grocery prices, more than half (55%) of consumers are actively searching for deals, a 5% increase from Swiftly’s 2023 data. Three-quarters (76%) of consumers are turning to digital coupons, while 64% rely on loyalty programs to help save money on groceries.
This trend is complemented by the growing use of retail applications, with 38% of consumers using apps to find savings, which is a 4% increase from last year. But despite the increased use of digital tools, in-store grocery shopping remains the top choice for most shoppers, with 72% of respondents preferring their local grocery store over big-box retailers, online shopping or delivery services.
“Grocery prices are influencing not only holiday plans but potentially the outcome of the 2024 election,” noted Swiftly. “With seven-in-10 Americans struggling to manage their grocery bills, this is more than a seasonal concern – it’s an ongoing challenge that’s shaping financial decisions and consumer loyalty.”
