Call free for debt management, debt help & advice

| All News | Archived News |

Consumers want "a treat or cheap deal"

5 August 2008

Following recent research indicating some British consumers are taking steps to cut spending amid the credit crunch while others continue to buy luxuries, the Grocer magazine has said mid-range products are faring badly at present.

Inflation expert for the magazine Alex Beckett said "shoppers seem to want either a treat or a cheap deal" and are avoiding mid-priced supermarket items.

Some shoppers are edging towards value products to cut costs while higher-priced frozen ready meals from Marks and Spencer and Sainsbury`s are also doing well, Mr Beckett said.

He added the price rises are due to growing populations in India and China which means prices are not expected to drop but rises may slow "as the world readjusts".

According to Defra, the lowest-income families in the UK have been hit hardest by food price rises. The poorest ten per cent of the country spend 15 per cent of their income on food, twice as much as the richest ten per cent.
ADNFCR-667-ID-18716099-ADNFCR

Top of page

Speak to an expert today
Call freephone: 0800 161 3516

Repaying debt ‘higher priority for consumers’ - 03/12/2008
A new survey has suggested that consumers are spending less on ‘non-essential’ pursuits such as eating out, short holidays and ...
Consumers not thinking through consequences of debt - 03/12/2008
Consumers may be worried about managing their debts, but many have given little thought to how they’ll repay what they ...
Parents being helped out financially by children, study says - 01/12/2008
A new study has found that a significant number of parents in the UK are in receipt of financial assistance ...

©2008 Gregory Pennington Ltd. Pennington House, Carolina Way, South Langworthy Road, Salford M50 2ZY. Company Registration No. 2855061
Registered in England and Wales

Debt management, debt help & debt advice services:
Debt Management | Debt Solutions | Debt Consolidation | IVA | Trust Deed