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Supply chain issues have touched just about every industry. From apparel, electronics, and toys to groceries and even pet foods! Shoppers have seen empty shelves and “out of stock” messages since the start of the global coronavirus pandemic. But now, they’re seeing their grocery bills creep higher and higher. Food-at-home prices climbed a whopping 6.5% over the last 12 months, while the cost of eating out of the home rose 6% in the last year.
Manufacturers like General Mills and Kraft Heinz are announcing price increases to compensate for the rising fuel and freight costs. Grocers like Kroger are upping their prices where it makes sense to do so and Aldi is apologizing for product delays. Restaurants such as Checkers & Rally’s, Domino’s Pizza, and even dollar-slice joints in New York face the same issue, as key ingredients are victims of inflation as well. While food manufacturers and grocers increase their prices, these extra costs are being picked up by everyday consumers. And research firm IRI indicated that food prices will continue to rise an overall 5% in the first half of 2022.
The good news is grocery resellers and discount store owners can purchase deeply discounted pallets of grocery liquidation on B-Stock marketplaces. These savings get passed onto shoppers looking for ways to extend their grocery budget and ride out these rising food costs.
Food costs are going up as consumers experience the fastest inflation rate increase in decades. In fact, prices are increasing across the board, according to the consumer price index. Supply chain issues and labor shortages are just two contributing factors.
Phil Lempert, editor of SupermarketGuru.com, said, “growers are yielding less corn and soy to feed farm animals, which is having a downstream impact on the price and availability of meat, eggs, and dairy products.” The highest price increases are hitting grocery items such as meats, poultry, fish, and eggs. Snack foods, produce like oranges and lettuce, and breakfast meats like sausage and bacon aren’t exempt from the price increases either.
Let’s break down a few reasons for these rising food costs:
Omicron, the highly contagious COVID-19 variant, has been sweeping through the U.S. With workers getting sick and unable to come in, there are fewer hands on deck to keep store shelves stocked. This also extends to food production, manufacturing, shipping, and distribution as well.
In a survey done by National Grocers Association, retailers and wholesale grocers reported operating their stores with 50% of their normal workforce. Workers are quitting their jobs at rates higher than ever before. More than 4.5 million people voluntarily left their jobs in November 2021.
Trucking and shipping are also other reasons that deliveries are taking longer or being canceled. There’s also the added obstacle of extreme weather conditions, such as snowstorms and heavy rains, which have made it harder to transport food along normal routes.
While shoppers can buy cheaper foods and cut back on special treats like desserts or alcohol, there’s another option. Discount grocery stores—also known as salvage stores, bent-and-dent stores, grocery outlet stores, closeout grocery stores, and surplus grocery stores—are where shoppers can find groceries at deep discounts. You can still find name brand products within these discounted grocery stores, since inventory is coming directly from retailers.
There are many reasons grocery items get liquidated:
Store owners can source pallets of food and beverage from online liquidation sites such as the ones B-Stock operates. This is where you will see retailers and manufacturers offloading their overstock and other liquidation groceries. Resellers can take advantage of these grocery liquidation pallets by offering discount groceries to savvy shoppers looking to save money.Browse Grocery Auctions
In 2021, the number of grocery auctions grew 62% compared to the same time last year. As shoppers turn to discount grocery stores to remain within their budget, grocery liquidation sites can help. Any good that grocery stores need to offload can be liquidated and purchased by registered buyers. On B-Stock marketplaces, you can find grocery products like dry goods, canned goods, snacks, nutrition bars, seasonal foods, household cleaning products, personal care items, and more.
Be sure to read A Guide to Buying Grocery Liquidation before you bid on grocery auctions. Next, you will want to register and submit a valid resale certificate to the grocery marketplaces of your choice. If you’re looking for a wide selection of liquidation groceries to resell, check out Costco Liquidation Auctions, Target Auctions Liquidation, Unilever Liquidation Auctions, Meijer Liquidation Auctions, KIND Snacks Auctions, UNFI Liquidation Auctions, and Amazon Liquidation Auctions.