2021 has begin in a tumultuous fashion – the good news of a Brexit deal set against a fresh lockdown , and more interior restrictions due to soar levels of coronavirus infection . How is consumer confidence in the economy faring , and how might that impact the shopping behaviours of British consumers of inwardness and dairy farm produce?The emergence of Covid as a major progeny in the UK in March 2020 saw consumer self-assurance lessen to the lowest levels seen since austerity in the former 2010 ’s . We have then see a steady recovery through 2020 until December . In December come a serial of further blow as the pandemic situation decline , the extension service of level 4 restrictions and for many , change to Christmas plans . The brood view of a no spate from Brussels also contributed to the sense of gloom . Notably since the deal was announced there has been a slight recovery in consumer assurance but it stay subdued . In addition , accord to IGD 32 % of consumers await to be bad off in the yr in front , compared to only 17 % who expect to be good off .
accord to our YouGov tracker ( AHDB / YouGov Nov 2020 ) 1 in 3 Brits have experience some modification in employment status since the start of the pandemic in March 2020 , with 11 % having been furlough , 12 % on thin out hour and 7 % made redundant .
The economical insecurity face by many has resulted in a change in consumer precedence , as 48 % say in the last month they are now more price conscious , or have changed how they allocate their household budget . Of these , more people are also buy product on advancement ( 61 % ) and are swop down – either by buying own label instead of branded ( 55 % ) or buying value ranges ( 43 % ) . Almost half ( 47 % ) say they have started shopping in cheaper stores .
It is the untested consumers who have become more Mary Leontyne Price witting – 49 % of 16 - 44 ’s compared to 39 % of over 45s – highlight the inadequate economic shock of the pandemic . jr. consumer are commonly more price witting than sr. but have become even more so over the course of the pandemic . Whilst accustomed office workers have lean to save money due to take few holiday , bring through on commuting costs and eat at base more , the nest egg have been much less for those who could not previously afford to take holiday or eat out very often . It is that group who have been most potential to see their income fall via furlough or redundance .
According to YouGov , the cost of food has become the biggest consideration for shoppers at this breaker point ( 65 % ) , ahead of preparation fourth dimension ( 59 % ) and wellness ( 58 % ) .
In finish , we look economical pressure to deepen in the first half of 2021 and many shopper to become more cost conscious . For more data : ahdb.org.uk
