Monday, July 13, 2020

Online Food Prices Jump

Prices are falling for the things people aren't buying but they are climbing for the items they are buying.

Online food prices have climbed 4.2% over the past six months according to the latest Adobe Inc. data.

“We’ve always thought of the online marketplace as a ‘value marketplace’ for consumers, meaning consumers can get a bit more bang for their buck, and this is supposed to be a more favorable time of year for them in terms of prices,” said Vivek Pandya, digital insights manager at Adobe. “But they aren’t getting that relief.”

This is what makes things interesting. Grocery prices typically increase more in the second part of the year, around the holidays, Vivek says.

Computer prices, also, have been on the rise, up 6.2% since March and “wiping out price decreases the category experienced since June 2019,” Vivek notes.


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