© Reuters. FILE PHOTO: A fishmonger works in a small market, amid the outbreak of the coronavirus disease (COVID-19), in Buckingham, Britain February 23, 2021. REUTERS/Andrew Boyers/File Photo
By James Davey
LONDON (Reuters) – Britons are buying less meat, fish and poultry as they seek to save money, amid a deepening cost of living crisis.
Market researcher NielsenIQ said Wednesday that volume sales of meat, fish and poultry fell 13% in the four weeks to April 23 year-on-year, a period that included the Easter holiday, and fell 7.8% year on year. value, indicating that UK shoppers are moderating their purchases in this category.
Soaring prices are causing the greatest pressure on UK household incomes since at least the 1950s and consumer confidence is at near record highs.
Official data last week revealed nearly a quarter of Britons were struggling to pay their household bills, while the boss of the country’s second-largest supermarket group, Sainsbury’s, said shoppers were “now watching every penny”.
Cash-strapped Brits are looking to save money. They’re buying more cheaper private label foods from supermarkets, cutting subscription streaming services like Netflix (NASDAQ:) and voiding repair warranties on appliances.
NielsenIQ data also showed a 15.9% drop in value sales of beers, wines and spirits over the four-week period year-on-year.
“It’s clear that as the cost of living continues to rise, retailers will be under pressure to ensure they have the mindset of consumers in mind, who are ready to focus more on saving the number of items purchased,” said Mike Watkins, NielsenIQ UK. said the head of retail and business vision.
NielsenIQ said total UK supermarket sales fell 1.8% in value over the four weeks year-on-year, with the average number of items in the basket down slightly – 11.2 from 11.5.
Echoing data from rival market researcher Kantar last week, Nielsen said German discounters Aldi and Lidl led the market in value sales growth, up 6.4% and 9.1% respectively.
market leader Tesco (LON:) was the only retailer of the Big Four UK grocers to gain market share by value.
($1 = 0.7999 pounds)