Cash-strapped consumers’ concern over food prices

Food inflation is a major concern in the UK, with almost nine out of 10 shoppers believing grocery prices have risen over the last 12 months, according to new research.
The Canadean Consumer survey also reveals, somewhat alarmingly, that almost half of those shoppers believe that prices have risen by 10 per cent or more – well above the levels recorded by the British Retail Consortium.
“Shoppers are noticing the impact of food inflation, with 88 per cent of people in the UK believing that food prices have risen over the last 12 months,” observes research manager Michael Hughes. “At a time when consumers are lacking financial confidence, it highlights how rises in everyday living costs are being felt across the country.
“Rising living costs are having a real impact on the purse strings of shoppers, with these price rises often most noticeable on core basic items, such as fruit and vegetables. These price rises are having a genuine influence on shopper behaviour, driving people to switch to alternative grocers that they find cheaper, purchasing more private label groceries and cutting back on non-essential items.”
Canadean Consumer’s research says discounters such as Lidl and Aldi are benefiting most the economic downturn, and have seen an increase in footfall as a result.
“As shoppers visiting these stores tend to find themselves pleasantly surprised with the quality of food on offer, it will prove more difficult for ‘traditional’ retailers to tempt them back once their financial situation improves,” concludes Hughes.






