5 Grocery Pricing Stories that Shaped 2024 

As a leader in grocery retail, you’ve seen firsthand how 2024 has been a year of both challenges and transformation. An industry evolving — fueled by changing consumer priorities, inflation, and the pressure to stay competitive in a crowded market. Trends like private label expansion, the importance of value perception, and the adoption of advanced pricing technologies are reshaping how you operate and engage with customers. 

Amidst these shifts, one thing remains clear: pricing is no longer a tactical lever—it’s a critical, strategic focus that defines success.  

The ability to adjust prices strategically and competitively while maintaining profitability is what separates market leaders from the rest. This means moving beyond intuition and embracing automation and tools that provide actionable insights. 

Let’s look at 5 impactful grocery pricing stories from 2024. Each highlights the importance of how high-quality competitive data and innovative pricing solutions can help you navigate this complex environment with confidence – and stay ahead in 2025 and beyond. 

Pricing News from 2024 

Grocers push discounts. Supermarket News shares that despite moderating inflation, shoppers will choose low price over quality and convenience.

The Takeaway: Discounts and promotions are essential tools for driving customer traffic, but you shouldn’t overlook what other retailers are offering shoppers. Monitor the competitive promotional landscape and offer shoppers competitive prices.

🚀 The ClearDemand Angle: One of our grocery customers discovered a SKU on promotion at a key competitor — the promotional depth and start date was greater than their own deal. The category manager called the vendor, and they honored the same agreement. 

FMI report: Grocers plan to invest even more in private label. Over 90% of grocers intend to increase their investment in private label brands over the next two years. Private labels have gained significant traction among consumers due to their perceived quality and affordability, while offering grocers higher profit margins compared to national brands. 

The Takeaway: As private labels grow in popularity, their success will depend on quality plus strategic pricing. Retailers must balance affordability with profitability while reinforcing the perceived value of these brands. 

🚀 The ClearDemand Angle: Grocery customers leverage ClearDemand’s product matching tool to analyze private label to private label where there may be different value levels and variances at each level. It’s also important to product match private label SKUs to national brands. If you don’t capture the entire category, then you miss opportunities (and risks!).

Consumers remain singularly focused on price. Another article that explains how consumers are focused on price. Retailers have accelerated their efforts to show that they recognize that people are facing financial stress and looking for relief at the grocery store.  

The Takeaway: Retailers must continue to monitor pricing closely and adjust dynamically to capture value-conscious shoppers. Success in this environment requires an understanding of competitors’ pricing moves and consumers’ price perceptions. 

🚀 The ClearDemand Angle: Have a reliable, holistic view of competitor pricing and sales trends which enables grocers to react swiftly and strategically to data. Know that your pricing strategy is being executed, and build loyalty among your shoppers. 

AI-driven pricing strategies in action. Retailers are leveraging advanced technologies to stay competitive in the disruptive grocery market. Grocery Doppio explains that AI-driven pricing strategies are at the forefront of this transformation, enabling grocers to adjust prices based on data.

The Takeaway: Data-driven technology is no longer optional for grocers—it’s a necessity. Retailers who invest in pricing automation and analytics will gain a competitive edge 

🚀 The ClearDemand Angle: Category managers, merchandisers, data teams, and pricing leaders are implementing the data and automation needed to optimize operations and execute winning pricing strategies. Competitive intelligence helps grocers make smarter decisions that support profitability and market leadership. 

Grocery prices decline slightly in 2024. USDA economists project that retail food prices in 2024 will experience their first year-over-year decline since 2017, with an average reduction of 0.4%. This shift follows two years of elevated grocery inflation​.

The Takeaway: Declining prices may ease pressure for shoppers, but it creates new challenges for grocers, who must sustain profitability amid lower margins. Strategic pricing and efficient category management are critical to maintaining competitiveness in this environment.

🚀 The ClearDemand Angle: With ClearDemand’s competitive intelligence tools, grocers can monitor competitor pricing trends in real time and adapt their strategies to stay ahead. Leveraging data-driven insights ensures