Despite increasing fears of a recession, new research suggests a higher number of consumers feel they will spend more on food and drink from specialist or local retailers than less. A poll conducted by GfK NOP on behalf of research based retail consultants him! revealed that of 1,000 adults asked, 19% expect to spend more in this area, and 16% will spend less. According to the survey 84% of the population are concerned the country will enter a recession compared with 57% in March this year. The research also revealed that 27% of adults said they would spend less on food and drink from fast food outlets, whereas only 6% said they would spend more.
One trend in particular is the increasing number of people who say they will be spending more in discount supermarkets such as Aldi and Lidl. Only 14% said they would spend more in March 2008 which rose to 22% in June.
The findings of the poll also suggest consumers will be cutting down on restaurant meals, although the figures showed that they wouldn’t necessarily switch to take-away options, but will instead buy more food from supermarkets.