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NEWS3 November 2017

UK shoppers loyal to British food despite rising costs

Brexit FMCG News Retail Trends UK

UK – Eight out of 10 ( 78%) UK shoppers remain loyal to British food brands despite rising food costs, according to research from Trinity McQueen.

The research among 2,000 UK adults last month analysed consumers’ attitudes to rising grocery costs in the wake of the Brexit vote.

It found that 63% of shoppers would be willing to pay more for British brands in fresh produce, fresh dairy ( 60%) and fresh meat categories ( 59%) if prices increased post-Brexit.

However, around a third ( 32%) said they would welcome cheaper food imports after Brexit, even if the production standards of those foodstuffs were lower than those in the UK. 

Anna Cliffe, joint-managing director of Trinity McQueen, said: "Our research shows that shoppers really do want to back British brands and products, and that they’re willing to pay more for them. We want to support our local farmers and reduce air miles where we can. But the study also shows that Brits are starting to feel the pinch of price rises caused by Brexit, and, in the end, our desire for value might win out."

Earlier this week, the National Institute of Economic and Social Research (NIESR) said British households are £600 a year worse off following the Brexit vote as it cut its UK growth expectations for the next three years.

Among Trinity McQueen’s other research findings were that 45% of respondents expect to have less disposable income this time next year and 55% of remainers are concerned that the UK will have another recession in the next two years (only 28% of leave voters feel the same way).

Cliffe added: "Leave and remain voters are completely split when it comes to the future of our economy, and there is a clear generational divide on how the country will fare over the coming months.

"Younger people and families with young children are much more worried about Britain’s financial landscape than those who are retired."