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More shoppers turn to discount stores to ‘cut the costs’ of inflation
Consumers turn to cheaper goods to ‘cut the costs’ of inflation
FOX Business’ Lydia Hu reports from Nutley, New Jersey, where some shoppers are trying to stretch dollars amid 40-year high inflation.
Higher prices are forcing more families to buy their groceries at discount stores, according to a recent analysis on consumer shopping habits.
Data from InMarket shows the average American spending on grocery items at discount or bulk buying chains increased 71% from October 2021 to June 2022. The survey also revealed during that same time period, spending at traditional grocery stores dropped 5.6%.
"I definitely go to dollar stores when I can, like snacks for my daughter for daycare and stuff, just so I can kind of cut the costs," one shopper told FOX Business’ Lydia Hu outside a Dollar Tree in Nutley, New Jersey on Tuesday.
Shoppers are also looking for bargains at bulk buying stores like Costco, Sam’s Club and BJ’s Wholesale. Sam’s Club parent company Walmart reported in its May earnings that membership income was up 10.5% year-over-year.
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"It just gave us a better value and a better offer that was there," another shopper told Hu on "Varney & Co." "We never really go to ShopRite or Stop & Shop for anything anymore."