30% of Britons buying cheaper grocery brands to save money
Some 53 per cent of Britons scrimped between April and June – the highest proportion since 56 per cent did so during the same period of 2015, market research firm Nielsen said.
This marked a swing back towards household cost-cutting over the course of the past year, which had been at its lowest level on record – 40 per cent – in the two months after the Brexit vote in June 2016.
Shoppers have changed their behaviour in a way that is reminiscent of the aftermath of the financial crisis in 2008/9, said Steve Smith, managing director of Nielsen UK and Ireland. Thirty per cent of respondents cited switching to cheaper grocery brands as their money-saving tactic.
"Shoppers are well-trained to use their household grocery budgets as a way to manage overall household costs, particularly as the desire to treat themselves remains," said Smith.
Nielsen said Britain declined from second in Europe's consumer confidence rankings just before the Brexit vote to the ninth now.
source: beta.theglobeandmail.com
