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Oct 06, 2005 -- Food shoppers choose ultra cheap or ultra fancy

How much of our food dollar is spent eating out as opposed to eating at home. Would you believe almost a half? Clark and his family used to spend about 90 percent of their dollar eating out, but now they have a newborn and they spend most of their time at home. Their food bill has gone down as a result. So, where do people save the most? Wal-Mart! The low priced supermarket sells $1 out of every $5 spent on groceries, and the company is on track to sell about one of every three dollars. Research shows that people save about 20 percent when buying groceries at Wal-Mart. The strange flip side of this is that Whole Foods, the high-priced gourmet market, is also gaining customers and growing like gangbusters. As a result, traditional supermarkets in the middle of those two extremes are closing left and right. There will be no need for these traditional supermarkets as people continue to move to opposite ends of the spectrum, shopping at the warehouse clubs and Wal-Mart superstores or at fancy organic health food markets.

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