With slowing econony, organic sales fall
The economic crisis is widespread, and yes, is even affecting the organic foods industry, including Whole Foods Market, according to a recent New York Times article. Sales of organic products, which had been growing at a whopping 20 percent per year in recent years, has slowed according to Nielsen. This September, versus the year before, the volume of organic products sold only rose 4 percent.According to market research cited in the article, people aren't moving entirely away from organic foods, but are reducing the number of products they buy. Children's foods are expected to remain strong. Some food sellers say they have not noticed this slowdown and suspect that sales could even improve if the economy worsens, as people move to cooking more and eating out less.
I would think that quality food would be on the last of things to go, but certainly budgeting in all areas, including food, will be seen more and more if the economy worsens going forward.
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