Credit Crunch Divides Shoppers
The credit crunch has produced a new big divide in the way that people shop. It seems that many of us are either choosing the cheapest or higher-end options, meaning that there has been a decline in the number of mid-market products which are being sold.
In a bid to keep a track on our debt management as food prices rise, it is no surprise value ranges have seen a rise in sales. It seems that the higher valued products are replacing peoples need to eat out, as they try to replicate this restaurant experience at home.
Alex Beckett, inflation expert for Grocer magazine commented: “Own label products are doing well – especially in the frozen category.Premium ready meals, like M&S and Sainsbury’s ‘taste the difference’,are doing well as are value products. But middle of the road, standard ranges are dipping. Shoppers seem to want either a treat or cheap deal.”