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British Shoppers Expect Higher Food Prices and Prepared to Use Different Shop Formats

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British Shoppers Expect Higher Food Prices and Prepared to Use Different Shop Formats

British Shoppers Expect Higher Food Prices and Prepared to Use Different Shop Formats
September 01
10:50 2011

Nine out of ten British shoppers expect food prices to be more expensive in the year ahead, according to the latest research from IGD ShopperTrack. And they are planning to use several strategies to help them manage their budgets. 29% of shoppers intend to use more discount grocery stores in the next 12 months, and 16% say they will do more of their shopping at frozen food specialists over the same period.

 

According to IGD, shoppers with secondary school children are more likely to increase their use of grocery discounters: 39% of shoppers with children aged 11-18 versus 27% of those without children expect to increase their use of grocery discounters over the next year.

 

“The vast majority of shoppers believe that food inflation is set to increase over the next twelve months. They are not taking it lying down and instead are prepared to sacrifice some of their time by shopping around at different retail formats, from discounters to frozen food stores, to get the best deals,” says Joanne Denney-Finch, chief executive of IGD. “Although shoppers are looking for value, they are still interested in maintaining their values and are prepared to pay for this: nearly half of shoppers (49%) say supporting local or British products is important to them when choosing what groceries to buy. But shoppers in some parts of Britain are more focused on price: those inScotlandare the most likely of any region to focus on saving on money in the year ahead.”

 

However, shoppers are still prepared to splash out with eight out of ten saying they pay extra for premium quality groceries every now and then, for example, during the recent Royal wedding. Fixed price meal deals, such as dinner for two for £10, more price matching and round pound deals are some of the initiatives food companies have introduced to help shoppers keep within budget.

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