USA Today reports that consumer concerns about rising food prices in a recessionary environment, as well as dropping ingredient costs for manufacturers, have allowed for the lowering of food costs in the US – with the Labor Department saying that the price of food eaten at home was down 0.5 percent in July, the seventh time it fell in eight months.
"The consumer really is very much in charge of the effort," Herb Walter, a partner with PricewaterhouseCoopers, tells the paper. "They're picking the price points they want and when they want it."
"The consumer really is very much in charge of the effort," Herb Walter, a partner with PricewaterhouseCoopers, tells the paper. "They're picking the price points they want and when they want it."
- KC's View:
- The broader lesson, it seems to me, come when you take the first part of Herb Walter’s comment and expand on it…because the consumer is pretty much in charge of everything these days. That’s what happens when they can research practically everything on the Internet, and communicate - via Twitter and Facebook and email and whatnot - with each other in real time about almost everything.
