British consumers are turning to cheaper alternatives to their supermarket shopping, trying to cope with the skyrocketing cost of living.
A NielsenIQ survey showed an increase in sales of frozen chicken (12% year-on-year), rice and cereals (11%). Canned beans and pasta (10%), canned meat (9%) and pasta (31%) also increased.
On the contrary, sales of beer, wines and alcoholic beverages fall (9.7%), as well as the consumption of other items that are not necessary in the diet (6.1%).
“Consumers are beginning to diversify their choices to cope with rising living costs. For some households, saving money means buying cheaper products,” explains a NielsenIQ executive. Some households stop buying certain products or turn to cheap German chains such as the German Aldi and Lidl.
Rising cost of living also causes a 7% increase in supermarket visits and a 12% decrease in online shopping.
SOURCE: AMPE
Source: Capital
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