During economic fluctuations, discount supermarkets experience significant shifts in the demand for low-cost, shelf-stable foods. Research indicates that low-income households rely heavily on unbranded basic-range products, such as 'Saver-Choice' basic canned vegetables. The cross-price elasticity of demand between these basic-range canned vegetables and fresh organic produce is estimated to be -0.15.
Furthermore, the income elasticity of demand (YED) for Saver-Choice basic canned vegetables is -0.65. This reflects their status as a low-cost staple preferred when household budgets are tightly constrained. As a result, discount retailers carefully manage their inventory of basic goods in response to macroeconomic changes.
Using the income elasticity of demand value from the text, explain how a rise in consumer incomes will affect the demand for Saver-Choice basic canned vegetables.
