September 25, 2008
Australian Food News: Consumer research from MINTEL highlights that, in the last 12 months alone, 41 percent of shoppers have switched to cheaper brands and 34 percent have cut down on premium ranges.
"It is clear that shoppers are now really feeling the pinch and beginning to trade down when out buying food," said Richard Perks, director of retail research at MINTEL. "During the recent years of unprecedented prosperity in Britain, we saw a very noticeable shift towards premium, upmarket food, with shoppers buying more luxurious ready meals and exotic produce. But in the space of just a few months, this trend has already started to be reversed."