A new Bank of England report has unwittiingly revealed that UK shoppers are turning their backs on buy-one-get-one-free (BOGOF) deals.
In its latest Agents’ summary of business conditions around Britain, which was released alongside the minutes to its last meeting, the Bank reported: “Households remained focused on value for money, with discount and online retailers, and value products performing relatively well.
“Spending on food remained the strongest component of demand, but even here promotional activity was essential to drive sales. Consumers were increasingly conscious of avoiding waste, and some contacts thought that promotions involving bundles of products had become less effective.”
It comes after the Local Government Association said multi-buy deals are partly responsible for a £13.7bn-a-year mountain of wasted fresh produce.
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