“In many ways, there is no manual for what we are experiencing right now, these are unprecedented circumstances”said Roberts, a 30-year veteran of British retail who has run the UK’s second-largest supermarket since 2020.
The country’s cost-of-living crisis is deepening and household pessimism has reached record levels. LWages are struggling to keep up with inflation, which hit its highest in more than 40 years at 9.1% in May and is heading into double digits. According to some forecasts, food inflation will reach 15% this summer and 20% early next year.
“There is some evidence that customers are buying (more) own brand and also increasing areas like frozen,” Roberts said, on a visit to a Sainsbury’s store in Richmond, southwest London. “LPeople are making sure they don’t incur any waste. People are buying only “for now,” he said, making sure they don’t buy products they might not use.
Market researcher NielsenIQ said on Tuesday that UK frozen poultry sales rose 12% year-on-year in the four weeks to June 18.
Frozen foods first became popular in the UK in the 1970s and, with prices often lower than fresh produce, they can come back into fashion in times of economic hardship.
Source: Ambito
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