Most shoppers are expecting food prices to rise and are actively seeking out value in order to deal with this, according to the latest research from IGD. More than nine out of 10 shoppers (91 per cent) think food prices will be higher in the next 12 months, with a third believing they will be much more expensive - compared to 19 per cent in October 2010. IGD’s latest ShopperTrack research also shows a quarter of shoppers (25 per cent say they will buy more of the lowest-priced supermarket private label products in the next 12 months, compared to 18 per cent in October last year.
And with a range of fresh produce to suit all pockets, the trade could be less hard hit than other sectors. Joanne Denney-Finch, IGD chief executive, said: “We see the focus for shoppers is still about value rather than price alone. Shoppers are continuously assessing products based on the performance that they deliver and are prepared to pay a little extra where they see great value being demonstrated.”
