New data points to yet another ripple effect from the rising popularity of weight loss drugs: a drop in grocery spending, Bloomberg reported Feb. 16.
A recent Morgan Stanley report found monthly grocery spending fell by 6% to 9% in households with GLP-1 users when adjusted for factors such as household size and income. The finding is based on a survey conducted by the market research firm Numerator, which was released in January and includes data from more than 90,000 U.S. households.
Two more notable findings:
1. Shopping habits also changed once households started using GLP-1s. Sales of snacks, pastries and ice cream decreased among GLP-1 users, while purchases of yogurt, fish and veggie snacks rose, according to Bloomberg.
2. When individuals stopped using GLP-1s, monthly grocery spending rebounded to previous levels, the survey found.
Read more from Bloomberg here.