(CNBC) -- U.S. shoppers are making more trips to the dollar store. They’re stocking up with items from stores’ private label brands more than usual and cutting back on snacks and sodas at convenience stores.
Those emerging data points, captured by market research firm IRI in recent weeks, may preview the next wave of grocery shopping during the coronavirus pandemic. They all have something in common: They are the buying patterns that herald an economic downturn.
“As this drags on, you are going to see a lot more recessionary behavior coming up,” said Krishnakumar Davey, president of strategic analytics for IRI. “We are just seeing the beginnings of it.”
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