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Online Opportunities from Canada’s Frugal Grocery Shoppers (Statistics) ©

An Ipsos survey for RBC has concluded that Canadians are becoming more frugal when it comes to buying food. 84% of those surveyed believe food prices are increasing and 91% are tightening their food budget.

Price increases are more worrisome due to a lack of faith in economic improvement in Canada, according to the RBC CCO national overall index.  Only 60% of Canadians surveyed think the Canadian economy is in good shape. 30% believe the economy will worsen in the next year.  RBC Economics, however, predicts the Canadian economy will actually grow by 1.8 per cent in 2013.

In an effort to offset food expenses:

I don’t believe any economic situation means businesses have to brace for impact, but it does mean they have to be positioned to adapt.  If you are constantly strategizing and implementing creative ideas, you’ll be able to steer around the bumps in the road and arrive at your bank relatively unscathed.

For example, a frugal frame of mind presents a number of online business possibilities.  How you can benefit depends on your position in the market, if you’re web-based or offline with a web presence, or if you’re in the grocery sector at all.

Attracting budget-conscious grocery shoppers may include:

How will you help yourself by helping cash-strapped Canadian shoppers? Please share your ideas in the comments below.

Sources:
RBC
eMarketer

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