New research from Adobe Analytics, shared with CNN, spells out the scale of this trading-down trend playing out in online shopping. Across 11 categories of e-commerce, high-priced goods have lost meaningful market share to low-cost ones, according to Adobe. For instance, the most expensive quartile of personal care products held 31% of the market as of January 2019. As of the end of February this year, these pricier products make up just 7% of the market, according to Adobe.
“Consumers are having to down-shift and forgo certain premium products and instead go for the cheaper ones. In groceries, that means people shifting from organic fruit to non-organic fruit,” Pandya said. Prices for food at home increased by 10.2% over the last 12 months, according to the government’s February Consumer Price Index inflation report.
LetsGoBrandon
Still not a recession?
Thanks, Brandon!
Better saving money from now on
6 mos a whole 6 months before Joe Biden took office inflation was at 1.4% a gal of gas was $2.35 a dozen eggs was $0.99 a week after Joe taking office the price of gas started shooting up. Inflation got to a historic high 9% Biden says it wasn't him he's a big fat liar
But Biden said the economy was one of the best in history 🤡🤮
BidensAmerica
There are some generic brands i perfer over the name brand, i prefer Great Value(walmart) potted meat over Armor
This being caused by sending billions to Ukraine and Biden not getting covid under control. CNN won’t call out Biden on his economic lies.
Presidents Putin and Xi Jinping signed more than a dozen documents on increased cooperation, ranging from trade and industry to science and the military. At the ceremonial dinner, Putin's toast from the 'I Ching', he said Russian and Chinese people have a 'common soul.'
The pandemic ended brand loyalty for me.
Gas prices to blame
Is Spam consider premium goods?
You know it’s bad when is showing how much the Biden Administration is hurting everyday Americans!
Wait… “Two” years? So you mean it’s *not* Putins’ fault since he invaded Ukraine 1 year ago? And instead it coincides with the election of … Joe Biden…? So when CNN said it was Putin’s fault… you were spreading disinformation?
LGB
Where u been? Biden told us that’s how to deal with his inflation.
I'm willing to show 10 lucky people on how to earn 0.53 BTC ($15,000)and more daily. No withdrawal fee You don't get to send funds to anyone Interested please PM
Weird my groceries are the same price. Maybe some people states laws, low taxes, and lax regulation leave them easy prey for gougers and more
But they still have money to wager on sports.
Ya think?
Exactly. That's why I get my news from CNN instead of the premium news services.
Made it China. That’s billionaires are created.
People will always look for sales, it’s called “competitive marketing “ IJS 🤷🏾🤷🏾🤷🏾
That's why Obama said 'don't underestimate Joe's ability to screw things up' Lol
Is this CNN for real, what the kind of economic stuff teachers you got . In term of information Today youth start 6 figures income, luxuries accommodation 2022 was the for real state business cross N. America What you mean by premium goods sir🤣
It’s called sacrifice. Sometimes it’s necessary. No one under 80 has any idea what people went through during WW II. Somehow we should manage. Are you listening, patriots? Sacrifice
If that's the case, may see an uptick in viewership.
😂 I still buy the same stuff as I did back in 2019. Prices going up only affected one thing: how much money I have to spend on frivolity, which is still more than enough bc I don’t have kids!
We need Republicans back. I want rich corporations, they make everyone rich. Corporations are businesses made up of people, people like you and I. Target is a very big corporation.
This is what America is reduced to. They are even laughing at your ordeal
Don’t worry these individuals in the Biden administration are watching over us👇🏼
It just transitory inflation Biden said, no worries.
Do not buy cheap furniture from Asia most of it is all trash. Spend the extra money on something reputable. - a guy who’s in the office furniture industry.
There should be a better word for it. Oh wait, capitalism These CEOs are raising prices to squeeze all the juice they lost in precious profits they missed during the first 2 years of Covid and giving themselves huge payouts on record profits
I blame Joe Biden and BLM riots…
FYI “many” consumers never knew what premium goods are… so who are we talking about REALLY?
Thanks Biden
Inflation is a good thing.