Albertsons-owned Safeway recently ran a promotion touting a “good old days” price of 92 cents for a dozen large eggs, 210 Analytics President Anne-Marie Roerink noted. Around Memorial Day, Batavia, Illinois-based discounter Aldi announced it was cutting prices on more than 250 items throughout the store, including easy-prep weeknight go-to proteins. And Pittsburgh-based Giant Eagle in August doubled down on its Price Lock program, freezing prices through November on an additional 200 items beyond the 800 initially announced when the grocer launched Price Lock in May.
“I think that’s something we’re going to see a lot in 2024—the ‘life back to normal’ pricing on some of those very big items that drive people into the store, whether it’s eggs, potatoes, bananas—those high-penetration household items that people really pay attention to,” Roerink says.
Heading into 2024, some of grocery’s dominant trends from the past year—fewer items in grocery baskets overall, continued strength for private labels and the march of fresh produce and a wider variety of refrigerated grab-and-go fare into dollar-store and c-store formats—are poised to persist. But consumers aren’t unilateral even within a single grocery purchase, let alone across their food buying over weeks and months. That’s why, for retailers, helping consumers build a meal on their terms and manage their spend in creative ways will be crucial for securing sales and loyalty in 2024, says Roerink.
How can grocers meet that challenge, and what’s in store for the fresh perimeter in 2024? Read on to find out.