Food prices rose by 10% during the last year, which is the fastest increase since March 1981, according to Consumer Price Index (CPI) data. From the gas pump to the grocery store, consumers are paying more on average, causing them to seek cheaper options for their groceries and essential items. While grocers are aiming to keep price increases from reaching the shelves on staple items, inflation and supply chain issues are continuing to cause prices to skyrocket.
In March, grocery prices rose across all six major food categories. Meats, poultry, fish, and eggs all rose 1% just this last month while cereal, bakery products, fruits, and vegetables increased by 1.5%. Fuel prices are also causing strain among consumers who are looking to cut costs. The gasoline index increased by over 18% in March.
While some aren’t seeing a significant change in consumer behavior, grocers do see an opportunity to help alleviate high prices for low-and middle-income shoppers. By accepting Supplemental Nutrition Assistance Program (SNAP) electronic benefits transfer (EBT) for online grocery orders, stores are helping make nutritious foods more accessible for all consumers.
For shoppers who don’t have easy access to a vehicle or transportation, online shopping and grocery delivery services provide an easier method of obtaining groceries. With the offering of EBT SNAP through your online grocery store, you can help shoppers facing food insecurity get access to the nutrition they need. Plus, shoppers in your community will be more likely to consistently choose your store for their groceries.
The professionals at STCR can help get EBT SNAP payments set up on your e-commerce site through innovative solutions. STCR offers an innovative approach to building these incentives for customers and they have seen incredible success among the retailers that have adopted them thus far. Request a demo to start strategizing with our team today!