"GoFundMe CEO Tim Cadogan said on the Opening Bid Unfiltered podcast that the company has seen a notable rise in a category it calls 'essentials,' which covers rent, utility bills, car payments and even food. 'That category has gone up significantly in the last three years in practically all our markets because affordability is an issue in essentially all developed economies,' Cadogan explained."
"The admission comes as the average US grocery bill has increased significantly, with one estimate showing a $100 list from 2019 now costing about $137, a 37 percent increase. In August, overall inflation rose 2.9 percent over the past year, according to the US Bureau of Labor Statistics. The strain on groceries was even greater, as food at home increased 2.7 percent, while prices for meats, poultry, fish and eggs jumped 5.6 percent."
"A recent survey by retail technology firm Swiftly found that 70 percent of US consumers are struggling with grocery affordability, a trend likely driving the boom in GoFundMe campaigns for basic essentials. There are now hundreds of posts seeking help with groceries, from families to students and the elderly. Cameron Moros from Pennsylvania is asking for funds to support his family, saying: 'Life has been a tough few months, trying to get the car repaired (currently car disabled) 600$ to repair and put groceries on the table for my family! I have two pre-teens, a service dog and no food as of today! Anything will help this holiday season.'"
More than half of Americans report difficulty affording groceries, and many are turning to crowdfunding for basic needs. GoFundMe has seen a notable rise in an 'essentials' category covering rent, utilities, car payments and food, increasing across markets over the past three years due to affordability pressures in developed economies. Average grocery lists rose from $100 in 2019 to about $137, a 37 percent increase. In August, overall inflation rose 2.9 percent year over year; food at home increased 2.7 percent and meats, poultry, fish and eggs rose 5.6 percent. Hundreds of campaigns now request help with groceries for families, students and the elderly.
Read at Mail Online
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