‘You can’t live a lie’ in the age of instant food: You can’t keep a secret in the fast-food era
Consumers who are still struggling to come to terms with the fact that they are spending so much on food in their lifetimes are going to have to learn to embrace the idea that there’s nothing to hide.
That’s according to a study published Tuesday by a New York-based company that predicts that consumers will be spending less on the most common food in just a few years.
The report, titled ‘Why Do We Spend More Than We Think?
The Case for a Fast Food-Free Future,’ suggests that Americans are now living in an era where they are willing to spend on everything from household appliances to gas and household furnishings.
The research predicts that by 2025, the median American household is spending $1,000 more on food per year than they did in 2000.
But why would they do this?
The report suggests that consumers are now so concerned with finding the perfect meal they are increasingly unwilling to go to the trouble of purchasing new appliances.
The study also suggests that the growing trend towards a “fiber diet” has contributed to the trend towards less expensive meals.
“Fiber diets are more affordable than other diets and thus have become more common in recent years,” the report states.
“As the economy has weakened and consumers have become less focused on what is the most affordable meal, the market for inexpensive meal options has diminished.”
The study predicts that the average household is now spending $300 per year on a home appliance, which would represent about 4% of the value of a home.
The average person spends about $1.20 per meal per year.
By 2025, however, the average American household would spend just $300 less per year per household on appliances than they were in 2000, the report suggests.
In the United States, the study also predicts that households are spending about a third less on gas and about a quarter less on household furnishments.
In the United Kingdom, the number of people living in households where there is a microwave oven has increased from 1.2 million in 1999 to 2.5 million in 2015.
The number of households that have access to electric appliances has also increased from less than 1 million in the U.K. in 1999 and now stands at about 5.5 times that number.
The new study also forecasts that in 20 years, the consumer price index will be in the middle of a significant decline, and by 2025 the U-turn will be complete.
While the report has some good news, the authors warn that a shift in consumer attitudes could lead to some real consequences for the economy.
“The real-world effects of this trend will depend on how the economy responds to these changes and whether consumers can be trusted to maintain an environment that reflects the changing times,” the authors wrote.
“As consumers have grown more self-reliant and more willing to take on the burden of maintaining the environment, a shift towards a fiber-free environment will be a key component of the transition to a more sustainable and equitable economy.”
Read more from HealthDay: