US & Global Economic Impact Analysis and Forecasts

Freedonia analysts and economists are sharing their insights on how major events are impacting different parts of the US and global economies.

Rising Prices & Supply Challenges…Consumers Are Stockpiling like it’s 2020

Consumers are nervous…still, and again.

  • This week’s release of the newest inflation figures show fast price increases, particularly in things people buy on a regular basis or otherwise consider very important.
  • “Freedom Convoy” protests -- in addition to winter storms and ongoing international shipping issues or labor challenges -- are becoming part of our concerns about shortages and delayed access to goods.

As a result, more consumers are stockpiling like it is 2020.

The October-November 2021 edition of the Freedonia Group National Online Consumer Survey includes the following insights:

  • Regarding rising prices – the highest share of consumers reporting they were either very or somewhat concerned about rising prices were in these categories: food (90%), personal care products (80%), over-the-counter medications (79%), beverages (77%), cleaning supplies (77%), and parts to repair a car (74%).
  • Regarding shortages – the highest share of consumers reporting they were either very or somewhat concerned about shortages were in these categories: food (82%), over-the-counter medications (69%), personal care products (68%), cleaning supplies (67%), beverages (65%), and parts to repair a car (63%).
  • Between 20% and 25% of respondents reported that they were currently stockpiling and planning to continue stockpiling the following categories of products for the foreseeable future: toilet paper, household disinfecting cleaners, household disinfecting wipes, hand sanitizer, soap, canned foods, frozen foods, snacks, rice, and pasta.

Freedonia analysts will continue to monitor these trends in consumer behavior as well as the variety of challenges the economy faces that gives rise to these feelings.

For more information and discussion of opportunities, see The Freedonia Group’s extensive collection of off-the-shelf research, particularly in the Consumer Goods and Packaging areas. Freedonia Custom Research is also available for questions requiring tailored market intelligence.

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