Why are food commodity prices dropping? I wouldn’t think people are eating less…ya gotta eat![/quote]
I’ve noticed some of my more upscale friends, who 2 years ago would insist on lunch in a full service restaurant, gradually shifting to counter service restaurants, then to brown bags.
As people eat their leftovers, rather than tossing them, they buy less food.
And high end brands are seeing a hit to sales. I have other friends who used to brag about shopping exclusively at Bristol Farms and Whole Foods (whole paycheck!). Now they’re shopping at Trader Joes and Ralphs.
People may be eating the same amount of food – but they’re watching their spending on food.
