More shoppers say they will buy more of the lowest-priced supermarket private label products in the next 12 months, according to the IGD’s latest ShopperTrack research.
A quarter (25%) of shoppers surveyed in January 2011 said they intended to buy more value own labels, compared with 18% of shoppers in October 2010.
The survey also reveals most shoppers are expecting food prices to rise and are actively seeking out value as a coping strategy.
More than nine out of 10 shoppers (91%) think food prices will be higher in the next 12 months, compared to 87% in October 2010. A third (33%) believe they will be much more expensive, compared to 19% in October 2010.
Joanne Denney-Finch, IGD chief executive, said: “There’s been widespread media coverage of rising commodity prices and the pressures it is placing on the cost of food, and we see the effect of this coming through in our shopper research. This pressure, combined with higher living costs, is causing shoppers to reassess how they spend their money.
“We see the focus for shoppers is still about value rather than price alone. Shoppers are continuously assessing products based on the performance they deliver and are prepared to pay a little extra where they see great value being demonstrated.”