Every retailer can relate to one problem at the moment: shoppers trading down and paying fewer visits to stores due to inflation raging on. CEO of Albertsons, Vivek Sankaran, reported that consumers at Albertsons stores are buying less but not trading out of its outlets. The retailer is offering them relief in the form of its private label products. The grocer also noted that shoppers from the affluent class are also looking for budget-friendly products due to rising fuel prices and inflation. Albertsons is innovating its meal solutions and offering a broad assortment of ingredients for at-home cooks. It is also proving to be beneficial for the company. The retailer plans to double the count of stores showcasing ReadyMeals brands soon.
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