UK Shoppers Turn to Own-Label Food as Inflation Bites, Research Shows
UK Shoppers Turn to Own-Label Food as Inflation Bites, Research Shows
LONDON (Reuters) – British buyers are increasingly choosing their own label products to help fight inflation soaring, according to research by Nielseniq which shows supermarket expenditures as a whole fall a year ago when the Covid locking steps were in place.
The sale of branded wholesale products fell 5.1% in four weeks to March 26, while sales of their own label, or private label, the product made for chain stores fell 1.9%, said the market research company.
The sales department for label products itself rose from 52.4% to 53.2% compared to last year, he said.
When we leave a pandemic, it is clear that the buyer reevaluates what they spend,” said Mike Watkins, Head of the retailer and Nielseniq business insight.
While some changes in spending will be caused by consumers only have a mixture of different baskets compared to last year, our data also shows that consumers are now increasingly shopping for personal label products as part of their coping strategy.”
Sales of personal label products in the ambient wholesale category or packaged increase by 3.3%; Significant changes in the category where brand dominates, with 61% share of total sales, he said.
British inflation reached a 30-year high of 6.2% in February and to 9% later this year, according to the government budget supervisor, which estimates that living standards in 2022 will fall most since the 1950s.
Overall groceries fell 4.1% year-to-year in that period, the sharpest decline has so far been recorded in 2022, Nielseniq said on Tuesday.
However, this period is the final comparison of extensive locking measures, indicating the potential for returns to the growth of Post Easter and into the spring.
The strongest-performing retailer is M & S, with sales up 9.4%, and Germany resigned LIDL and Aldi, 8.6% and 5.6% respectively. The three are the only retailers to get market share, he said.
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