Swiftly Consumer Survey Reveals Rising Grocery Costs and Inflation Are Driving Voting Decisions for Nearly Half of Americans

As the cost of living continues to rise, Americans are feeling the pinch in their wallets – especially at the grocery store. Swiftly’s annual True Cost of a Grocery Shop survey is out, revealing a concerning trend: 70% of consumers are struggling to afford their groceries. This marks the third year in a row that grocery affordability has been a significant challenge for households, despite a slight easing of interest rates.

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Grocery Prices and the 2024 Election: A Critical Issue

This year, grocery costs aren’t just affecting what’s in people’s carts—they’re shaping decisions at the ballot box. With the 2024 election looming in November, the economic strain felt by today’s households has taken center stage in political conversations.

According to our 2024 survey, 75% of respondents believe that the outcome of the election will directly affect everyday prices, while 68% say grocery costs and inflation are major factors in deciding whom to vote for. In fact, nearly half (46%) of consumers report that inflation and the rising cost of groceries will be decisive issue that will shape their voting choices.

Politicians and retailers alike are under increasing pressure to address these concerns, especially as voters head to the polls. The significance of grocery prices in shaping election choices signals a broader issue that can’t be denied — Americans are increasingly feeling the weight of inflation in their daily lives.

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Thanksgiving and Holiday Spending: A Unique Opportunity for Retailers

As the holiday season approaches, our survey revealed unique insights into consumers’ shopping behaviors and expectations.

This year, a striking 58% of Thanksgiving shoppers expect to spend more on groceries compared to previous years. Rising costs have even led 56% of consumers to consider dining out for Thanksgiving instead of preparing a home-cooked meal.

For retailers, this presents a golden opportunity.  Competitive deals and promotions could sway shoppers back into grocery stores for their holiday meals.

Today’s consumers are already demonstrating an increasing reliance on discounts to mitigate high grocery costs. According to the survey, 55% of consumers are actively searching for deals, a 5% increase from Swiftly's 2023 True Cost of a Grocery Shop survey data. This means promotions and loyalty programs are more critical than ever, as consumers try to stretch their budgets for the holiday season.

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Digital Tools: The New Shopper Lifelines

In addition to traditional cost-saving measures, digital tools are becoming a vital resource for today’s budget-conscious consumers.  

Our 2024 survey data shows that 76% of consumers are turning to digital coupons, while 64% rely on loyalty programs to help save money on groceries. This trend is complemented by the growing use of retail applications, with 38% of consumers using apps to find savings—a 4% increase from last year. Digital retail tools are clearly making an impact, as grocers leverage both digital platforms alongside their physical store locations to attract and maintain customer engagement.

Even as digital tools take off, in-store grocery shopping remains the top choice for most shoppers, with 72% of respondents preferring their local grocery store over big-box retailers, online shopping, or delivery services. Grocers that combine the convenience of digital tools apps with personalized in-store promotions stand to capture a larger share of customers during this high-stakes holiday period.

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A Changing Consumer Landscape

This year’s survey also highlights a sobering shift: 62% of consumers are no longer purchasing snack products due to rising costs. These small sacrifices point to a much larger issue of affordability that’s affecting households nationwide. As consumers become more selective with their purchases, the impact is being felt across the retail landscape.

For retailers, this shift presents both challenges and opportunities. While shoppers are being more selective, they are also showing a willingness to engage with digital tools like coupons, mobile retailer apps, and promotions to save money. They’re shopping with a purpose — looking for value, deals, and the best bang for their buck.

It’s not just about stocking shelves anymore; it’s about creating savings experiences that connect with today’s deal-savvy consumer. Retailers that offer a blend of convenience, value, personalization, and savings can not only attract budget-conscious consumers but also foster long-term loyalty in an increasingly competitive market.

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A Call to Action for Retailers

Swiftly's True Cost of a Grocery Shop survey reveals more than just rising food costs—it underscores the deep impact these costs are having on consumers’ daily lives and, increasingly, on political decisions. Grocery prices are influencing not only holiday plans but potentially the outcome of the 2024 election.

For grocers and retailers, message is clear: Addressing rising costs must be a top priority. With 7 in 10 Americans struggling to manage their grocery bills, this is more than a seasonal concern—it’s an ongoing challenge that’s shaping financial decisions and consumer loyalty.

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The survey, involving 2,000 randomized participants who were not compensated, provides a comprehensive overview of current shopping trends.

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