"food prices" news and stories

This past Saturday's New York Times had an intriguing article on how Whole Foods is trying to overcome its nickname, Whole Paycheck. Considering the high food prices sweeping the entire nation, this attempt is crucial for the company's survival. Since its financial peak in 2006, Whole Foods' stock has dropped more than 70 percent. The market for organic foods and specialty foods is in trouble.

A report from TNS Retail Forward produced a survey last month that shows that 20 percent of shoppers have altered where they purchase groceries because of the economy. To make matters worse for Whole Foods, market researching firms, like the Hartman Group, say that consumers are less interested in organic foods.

In this current economic environment, what is Whole Foods doing to change its image as an overpriced grocery store?

1. Offering more discounts
2. Increasing lower-priced store brands
3. Advertising products they sell at a good value
4. Organizing budget-focused store tours
   

Do you think Whole Foods will be able to suppress its nickname Whole Paycheck?

In some sectors, it's practically de rigueur (and awfully hilarious) to rip on the rarefied findings of NY Times restaurant critic Frank Bruni, but I've gotta say I tend to dig his indignation as expressed through the fewer-holds-barred medium of the website's Diner's Journal. I certainly jibe with his notions of the judiciously applied dress code and the diner's right to doggie bags, but I'm almost irrationally delighted by his use of the bully pulpit to call out the stealthy price jabbings of high-end restaurants.

He specifically cites the same outrageous charges (his boiling point is $7, mine was $6) for postprandial tea that I'd kvetched about a while back. Nothing falutin', not a monkey-harvested Pur-eh or shade-grown sencha -- just in his case a mint T-brand tea (which tea purists would prefer we refer to as a "tisane" rather than a tea as it's actually an herbal infusion, but I digress) which at $17.95 for 1.76 oz tin, retail, would surely produce, uh, more than 2.56 cups. Yes, service, water heating, cups, rent, etc. don't come for free but still, the whole enterprise is quite crabby-making in this strained economy.

Mr. Bruni, we salute your foray into the consumer advocacy front and will be following the "That Costs What?!?" series juuuust as soon as you get that pesky RSS tag fixed ravenously.

[via: New York Times Diner's Journal]

The floods in the Mid-West are causing a nationwide increase in food prices across the board. Corn and soy prices are increasing dramatically which means other foods that depend upon them are increasing as well. Expect to see many grocery items like meats, cheese, eggs, milk, oil, etc. increase in price.

I spent summers as a child in the corn fields of Iowa, many of which have become lakes, with the gently hills small islands. Now many of these farmers are calling it quits, selling off the farms and getting out of the business. Animals are being sold off, which means a short term meat glut, but a long term shortage. Don't expect prices to go down from the quick influx of meat, because the long term shortage is so visible that prices have to start reacting now.

This is going to have such long term effects that you can expect your Holiday turkeys and hams to cost quite a bit more than last year, and possibly even more the year after that.

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