FDBusiness.com

More British Shoppers Expect Higher Food Inflation

 Breaking News
  • First Milk Acquires Fonterra’s 51% Stake in Fast Forward Joint Venture First Milk, a wholly British farmer-owned dairy co-operative, has agreed to purchase Fonterra’s 51% share of its Fast Forward joint venture, established in 2011, and has entered a new strategic partnership with Havero Hoogwegt for global WPC80 sales and distribution. From July 2019, First Milk will be the sole owner of the whey protein concentrate [...]...
  • Leaders in Luxury Packaging Join London’s Most Exclusive Packaging Event Luxury Packaging London 2019 will celebrate its 10th anniversary when it returns to Olympia on 11 & 12 September, hosted alongside Packaging Innovations. As the UK’s leading luxury packaging event, it will bring together over 180 exhibitors and a dedicated audience of senior buyers, all looking to source the latest in luxury packaging solutions. With consumer concerns [...]...
  • The Lakes Distillery Announces £3.75 Million Investment The Lakes Distillery, based in Cumbria, England, has secured a £3.75 million investment from a group of investors led by Gresham House Asset Management, a specialist equity investment and asset management company. Joining existing investors and high-net-worth individuals, who recently made an additional £1.6 million investment, this is a milestone for the distillery and Gresham [...]...
  • Kerry Group Inaugurates New Production Facility in India Kerry Group has officially opened its new €20 million production facility in Tumkur, India. The new, state-of-the-art 40,585 square metre facility, located 120 km from Bangalore, will serve Kerry Taste & Nutrition’s global and regional customers in the South West Asia region, with Kerry Taste and Beverage systems for the fast-growing retail and foodservice markets. This is Kerry Group’s [...]...
  • Lamb Weston to Acquire Australian Frozen Potato Processor Lamb Weston has agreed to acquire Ready Meals, a frozen potato processor in Australia. Terms were not disclosed. Ready Meals sells frozen potato products under the Harvest Choice brand and operates frozen potato processing and storage facilities in Hallam, Victoria. Lamb Weston, along with its joint venture partners, is a leading supplier of frozen potato, sweet [...]...

More British Shoppers Expect Higher Food Inflation

More British Shoppers Expect Higher Food Inflation
February 28
14:56 2011

Most British shoppers are expecting food prices to rise and are actively seeking out value in order to deal with this, according to IGD’s latest research. More than nine out of ten shoppers (91%) think food prices will be higher in the next 12 months, with a third (33%) believing they will be much more expensive – compared to 19% in October 2010.

When asked by IGD ShopperTrack, ‘how do you expect food prices to change over the next 12 months:

* 91% of shoppers (January 2011) think food prices will be more expensive (v. 87% October 2010), of which:

* 33% believe they will be much more expensive (v. 19% October 2010),

* 58% believe they will be a bit more expensive (v. 68% October 2010).

Joanne Denney-Finch, chief executive of IGD.

IGD’s latest ShopperTrack research also shows a quarter of shoppers (25%) say they will buy more of the lowest-priced supermarket private label products in the next 12 months, compared to 18% in October 2010.

“There’s been widespread media coverage of rising commodity prices and the pressures it is placing on the cost of food, and we see the effect of this coming through in our shopper research. This pressure, combined with higher living costs, is causing shoppers to reassess how they spend their money,” says Joanne Denney-Finch, chief executive of IGD. “We see the focus for shoppers is still about value rather than price alone. Shoppers are continuously assessing products based on the performance that they deliver and are prepared to pay a little extra where they see great value being demonstrated.”

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • June 25, 2019BevExpo 2019
  • October 17, 2019Future Food-Tech
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber

Subscribe Here



Advertisements