By Jeff Wells
Source: Grocery Dive
Albertsons’ shoppers are trading down. But they’re not trading out of the company’s stores.
That was one of the key observations CEO Vivek Sankaran shared during the company’s first quarter earnings call Tuesday. As record-high inflation and gas prices drag on, price-sensitive shoppers are buying more of the grocer’s private label products. This is especially true in categories where national brands aren’t particularly strong, like rice, shortening and beans.
At the same time, Sankaran said Albertsons is seeing more affluent consumers adopting money-saving habits. They’re buying hamburgers as well as organic meat. They’re purchasing premium beer but also buying items like avocados in bulk to save money, he said.