Most shoppers are expecting food prices to rise and many are seeking lowest-priced own labels to deal with this, according to IGD’s latest research.
More than nine in 10 shoppers (91%) think food prices will be higher in the next 12 months, with one-third (33%) believing they will be much more expensive - compared to 19% in October 2010.
The 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.
Joanne Denney-Finch, IGD chief executive, said: “There’s been widespread media coverage of rising commoditiy 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. The pressure, combined with higher living costs, is causing shoppers to reassess how they spend their money.
“We see the focus for shoppers is still about value rather than price alone. Shoppers are continuosly assessing products based on the performance that they deliver and ar prepared to pay a little extra where they see great value being demonstrated.”
More than nine in 10 shoppers (91%) think food prices will be higher in the next 12 months, with one-third (33%) believing they will be much more expensive - compared to 19% in October 2010.
The 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.
Joanne Denney-Finch, IGD chief executive, said: “There’s been widespread media coverage of rising commoditiy 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. The pressure, combined with higher living costs, is causing shoppers to reassess how they spend their money.
“We see the focus for shoppers is still about value rather than price alone. Shoppers are continuosly assessing products based on the performance that they deliver and ar prepared to pay a little extra where they see great value being demonstrated.”
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