Research by Waitrose into the nation’s latest shopping habits shows its customers are not immune to the cost-of-living crisis, with many turning to cheaper cuts of meat and tinned foods to save money.
In a survey for the upmarket supermarket’s Food and Drink Report 2022-23, 72% of respondents said that they are now “more mindful” about their grocery budget and more than a third are “very concerned” about how the rising cost of living will affect them in the coming months.
Meanwhile, 32% of people stated that they are looking out for special offers more than ever before, and a quarter of people are economising by making strict shopping lists.
The supermarket noted that a “use-it-all trend” and move to cheaper slow cooking seemed to be behind surging sales of beef shin, ox cheek and lamb neck, which have increased by 23%, 9% and 4% respectively.
Sales of fish heads for stocks and curries were also up 34% over the last year and sales of 70’s favourite spam rose by 36%. 46% of people are also buying more sweet treats to enjoy at home, whilst items such as curry meal kits and yeast for baking have fallen out of favour.
Despite the spending squeeze, Waitrose noted that more people are asking questions about where their food comes from and, increasingly, the climate impact.
22% of our survey respondents told the supermarket they now consider the carbon footprint of products, and 35% said they are prepared to put things back if there is too much packaging.
James Bailey, Waitrose Executive Director, commented: “The events of the last year have created a difficult backdrop for many people and like all supermarkets we’ve had to judge the mood and react. We’re seeing some big changes.
“With shoppers being more mindful of their grocery budgets and shopping around for more offers, we have responded by doubling down on our good food promise. We believe budgeting shouldn’t mean compromise.
“While nearly a quarter of shoppers told us they have ‘switched to supermarket own brands for their basics’, we are proud that our Essentials range, which comes with exceptionally high sourcing and welfare standards, delivers on not just price, but quality and taste.”
NAM Implications:
- Come on, you didn’t think it was that bad?
- Seriously, Waitrose shoppers have always been careful, discerning buyers.
- So those in need will see opportunities in Waitrose essentials.
- All it needs are strong nerves all round.
- Fingers crossed…
