It's tempting to look at inflation, promotions and grocery spending and talk about "the consumer."
But European shoppers are moving in different directions.
McKinsey's latest State of Grocery Europe research shows that the proportion of shoppers actively seeking promotions has fallen from 44% in 2023 to 37% in 2026.
Look beneath that headline, however, and something interesting appears.
Medium- and higher-income consumers have become progressively less focused on price and promotions.