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Food Retailers Optimistic in 2024: Survey

For the first time in four years, food retailers and wholesalers were more optimistic than pessimistic about the state of the economy

Published

3 months ago

February 13, 2024

VMSD Staff

Food Retailers Optimistic in 2024: Survey — PHOTO: ISTOCKPHOTO

PHOTO: ISTOCKPHOTO

Food retailers and wholesalers are more optimistic about 2024 than they were at the beginning of 2023, according to the annual Supermarket News Retailer Expectations Survey.

A little more than half (52 percent) of respondents said they were at least “fairly confident” in the strength of the economy. This is the first time in four years that respondents were more optimistic than pessimistic. Last year’s survey found 44 percent of respondents were optimistic about the economy.

8 percent of respondents said they were “extremely confident” in the strength of the economy
46 percent of respondents said they were “fairly confident” in the strength of the economy
42 percent of the respondents said they were “not very confident” in the strength of the economy
7 percent of the respondents said they were “not at all confident” in the strength of the economy.

Despite the optimistic outlook on the economy, 56 percent of the respondents said they expect the potential for a recession in the coming year. 87 percent said inflation is a major concern.

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