Australians are cutting back on snacks due to cost of living - Food Files

Nov 21, 2023

Chocolate? In this economy?

You know things are bad when snacks from the supermarket are now seen as ‘luxury’ items. That’s what the Product of the Year survey by NielsenIQ has revealed, along with more than a few worrying trends among shoppers.

The survey shows that treats and snacks have become a low priority for shoppers as they struggle to justify the costs.

Sarah Connelly, the director of Product of the Year said, “Whilst snacks and treats were commonplace in the shopping trolley before living expenses started to increase exponentially, these are now classed as luxury items rather than a need, with many shoppers viewing snacks as a low priority when it comes to feeding the family.”

The survey also highlights that around 45 percent of shoppers have switched from name brands to home brand products in an effort to stretch pennies amidst a cost of living crisis, confirming what many of us already know.

Of the big ticket items that shoppers are purchasing less and less of, many former staples of the shopping trolley stand out.

57 percent of those surveyed have given up on buying ‘indulgences’ like chocolate and desserts, 49 percent are avoiding purchasing snack foods, 39 percent are ditching premium products like nuts and oils, and 14 percent are even hesitant to splash out on cleaning products.

An overwhelming majority of participants are leaning into at least one form of restricted budgeting, with 87 percent saying they’re cutting down on takeaways and delivery, buying cheaper alternatives, cooking more at home, and eating their leftovers.

The timing of the study’s release could not be more poignant as families are being forced to choose between food and rent, medication or school supplies. Meanwhile, some supermarkets are recording record-breaking profits.

Australians have been taking to TikTok to illustrate the obscene costs of everyday items and confusing ‘specials’ they are spotting on shelves, like jars of Vegemite for $10 despite the product being manufactured just outside of Melbourne.