,UK

Shopper confidence declines to lowest level in a year: IGD

21% of shoppers expect to focus more on saving money rather than quality next year.

Shopper confidence has fallen to its lowest level in a year, according to the IGD’s latest Shopper Confidence Index.

The September 2021 Shopper Confidence Index from ShopperVista sees 85% of shoppers expecting food prices to get more expensive next year, compared to vs 79% in August 2021.

Following a small but consistent decline for the last four months, shopper confidence fell to -9 score compared to -4 in August, which is its largest recorded monthly decline.

Confidence declined steadily throughout September and fell to a -14 score at the end of the month. 

Overall, financial confidence also fell sharply in the last month with 31% of shoppers expecting to be worse off in the year ahead, a 9% increase compared to August. 

The decline in confidence was across all shopper demographics, but more so among lower income households.

21% of shoppers expect to focus more on saving money rather than quality next year, which is a 6% increase from August 2021.

“Moving forward, shopper focus will be on value for money and we will see much wider adoption of the 2021 “Savvy shopping” trend as shoppers look to save money, with many switching to private label products, motivated by seeking out savings,” Simon Wainwright, Director of Global Insight at IGD.

“The discount channel is forecast to be the fastest-growing grocery channel over the next five years and we will see many shoppers shift their shopping behaviour to make cost-savings from this channel.”

“Shopper confidence will remain very fragile for the foreseeable future so retailers and suppliers will need to focus on building loyalty by supporting their customers’ needs by offering value for money,” he added.

Join QSRMedia UK community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The shop will help the chain build brand awareness as the company looks to grow its restaurant footprint.
It will have seating for 46 diners along with ‘grab and go’ options.
The location aims to showcase ‘takeaway classics' that founder Julian Denis and chef Harry Fox grew up with.
The chicken brand was created with British YouTube group The Sidemen.
Digital continues to be the main driver of the business, the company said.
The concept is the brainchild of Dayashankar Sharma, the executive chef behind fine-dining Indian restaurant Heritage Dulwich.
Revenues at the restaurants it has opened this year are “far more” than the chain had expected.
It joins a growing number of food companies that have announced global commitments to eliminate the use of cages in their egg supply chains.
The chain also appointed two more companies in the UK as part of its roster of franchisees.
It also has to open an additional 10 stores over the next two years.
The item was launched by the high street group in 2019 and helped to serve up a significant sales boost in the same year.
53% of consumers are actively counting calories or checking sugar content.