Wednesday, June 25, 2008
"This appears to be both an acceptance of actual inflation in organic food prices and a deepening desire to find alternatives to conventionally produced goods," the study noted. The survey indicated that 97.7% of respondents spent a portion of their grocery budgets on healthy foods in May, up from 96.5% in November.
"The apparent recession doesn't seem to have affected consumer interest in organic foods, leading to the clear conclusion that consumers see healthier foods as imperative items and not luxury goods that can be pared from the grocery list in cost-cutting times," stated SmallCap Sentinel analyst Brian Kelly. "As consumers battle rising food and gas prices, many traditional purchases such as vacations are out -- but not organic foods."
(Source: PR News Wire, Biz Journal, Trading Markets)