30th Mar 09
Consumers downgrading to cheaper brands
by Natasha Redman
www.sainsburys.co.uk
For many items bought at groceries, thousands of shoppers in Northern Ireland are abandoning major brand names and buying cheaper alternatives.
Sainsbury’s has released new figures showing that their customers increased purchases of the retailer’s own low-cost label sales by 60 per cent in the last year.
At the beginning of 2009 the supermarket chain committed to expand its Basics range to over 600 products. What this means is that staples, such as pasta and baked beans are now being joined by items such as olives and smoked salmon.
According to a trading statement issued by the company, this has resulted in a boom in Basics sales, largely credit with a 6.2 per cent increase in overall sales in the last three months.
The massive consumer shift away from top brand names to cheaper own-brand items is a fairly recently development, but one that reflects other shopping patterns in the UK as the economic downturn increases frugality.
A growing trend is also being seen with shoppers visiting discount outlets such as Iceland and Lidl, where before the recession there was a considerable stigma attached to low-cost stores.
A recent report issued by Mintel Food Retailing showed that approximately one-third of consumers in the UK have switched at least part of their grocery shopping to lower-cost retailers.
For more information on this article please visit www.belfasttelegraph.co.uk.
www.sainsburys.co.uk
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