“Other foods” which are items like condiments, baking ingredients, spices and herbs, and specialty foods is the category that has experienced the highest percentage increase in price over the past year. We can see this in the peak that all categories have around 2022, where the “Other Foods” represented by the purple line reaches the highest point compared to other categories at 12.7. Throughout the years leading up to 2020, the trend for Other foods aswell as all the other categories experience significant fluctuations, with an increase in growth that sharply rises in the last year. We recommend that FreshFare uses these analytical tools for continuous monitering of grocery categories. This will allow FreshFare to analyze how inflation impacts different grocery categories over time and identify the categories with the highest sensitivity for price changes.

Source: USDA

These visualizations highlight the significant regional differences in grocery costs across the United States, with a focus on the Northeast and Midwest regions. The map shows that the Northeast region, where FreshFare operates, has some of the highest average monthly grocery costs per person, as reflected in states like New York and Massachusetts. This underscores an opportunity for FreshFare to position itself as a premium brand by emphasizing quality and locally sourced products that align with customer expectations in high-cost areas. Meanwhile, the bar chart provides a detailed comparison of average grocery costs in key states, showing that the Northeast generally surpasses the Midwest in monthly costs. This data can guide FreshFare in tailoring its pricing, promotions, and inventory strategies to meet the economic realities of its primary market while also exploring potential expansion opportunities into lower-cost regions, where competitive pricing could be leveraged to attract cost-sensitive consumers. Source: World Population Review

In the following scatter plots, you can explore the relationship between the monthly inflation rate and the grocery store sales. Scatter plots are ideal for visualizing this data, as they help to show the correlation and strength of the relationship of the two variables, and they help to identify any specific patterns or outliers. Based on the graphs below, we are able to see that the CPI steadily increased from 2020 to 2024, showing that overall prices kept rising over time. On the other hand, the inflation rate went up and peaked around 2022, then started to drop, meaning prices were rising quickly at first but then slowed down. While the CPI shows the overall trend of rising prices, the inflation rate highlights how quickly or slowly those prices are changing in the short term. Together, they provide a clearer understanding of both long-term price trends and short-term price movements.

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