Penny-pinching

Cost-conscious French consumers have a new, entrenched penny-pinching approach to shopping: they’re ditching fish, buying cheaper meat, and snubbing organic food to save money.

• Consumers report they’re cutting costs on meat, trying to find the best prices for vegetables, and buying fewer factory-made snacks.
• The phenomenon is far-reaching and has been gaining momentum in recent weeks.
• Food industry companies such as Carrefour have been trying to adapt to the new frugal mindset with promotional campaigns to freeze the prices of everyday products.

The main cause of the situation is inflation. It has surged to record levels in major economies over the last year due to strained post-pandemic supply chains and skyrocketing energy prices after Russia's invasion of Ukraine.

• Even though France attempted to cap gas and electricity prices and boost incomes, the scenario has still pushed consumers to change their shopping habits.