31 million shoppers choose own brands

Tuesday 4th August 2009

The number of people buying own brands in supermarkets has tripled in the last year, according to research.

Some 74 per cent of shoppers now regularly use money-off coupons on their weekly shop, compared to 26 per cent last year, according to uSwitch.com figures out today.

As the recession cuts into many people's weekly shops, the price comparison website found one in five of us now compare prices online before going shopping, and eight million now grow their own fruit and vegetables, up by eight per cent since last autumn.

Rumina Hassam, personal finance expert at uSwitch, says: "In the face of uncertain economic forecasts, continued volatility in the housing market, and worrying increases in national unemployment, Brits are making savvy cutbacks to their fundamental spending routine to beat the recession at its own game.

"The number of Brits making basic changes to their weekly food shopping patterns has increased dramatically since last year, as the effects of the recession continue to amplify.

"However, despite the economic outlook remaining uncertain, consumers may find they have the last laugh - as the lessons learnt from the schooling in savviness they are currently experiencing as a result of the recession will remain vital, even long after the economy recovers."

While food prices may be stabilising uSwitch said 45 per cent of consumers are still finding food much more expensive than last year. Nine in ten British consumers now use "recession-busting shopping strategies", helped by the launch of own label range's, such as Waitrose 'Essentials' range.

The number of people doing their shopping online also increased, with industry commentators predicting the value of online food sales could hit £8 billion by 2011.

Researchers at uSwitch said: "As a result of 'pinching the pennies' becoming very much the new 'splashing the cash', figures suggest supermarkets may turn out to be one of the few winners in the recession.

"For example, Morrisons has just surprised the market with an unscheduled trading update indicating full year profits would be £70 million ahead of expectations. Share prices in Sainsbury's and Tesco have also experienced a rise."

Related News

<< Back To News Listings

News Article Search