"Karen Betts, Chief Executive of the Food & Drink Federation (FDF) said there is a shift in shoppers habits as people are tightening their belts and are not continuing with their normal festive shopping habits. Betts told the i, "I think what we're seeing... is that where people are buying those items now, they tend to be within their same basket spend, so not as an add-on to a basket that they would otherwise have bought.""
"A Treasury spokesman said: "The Chancellor has been clear that one of her priorities in the upcoming budget is cutting bills. "Food inflation is falling, and our recent deal with the EU, our biggest trading partner, will help make food cheaper and UK exports easier to support the farming industry. But we know there's more to do to support working people with the cost of living."
Consumers are cutting back on Christmas spending, causing reduced festive purchases and squeezing retailers and the broader economy. Shoppers increasingly incorporate seasonal items into their normal grocery baskets rather than buying them as extra items, shrinking incremental festive sales. Food and drink inflation has raised the overall Consumer Prices Index, adding pressure on household budgets. Businesses face short windows to recover lost sales even if consumer confidence improves before Christmas. The Treasury emphasizes priorities to cut bills, notes falling food inflation and a trade deal with the EU to lower food costs, and cites budget choices that funded NHS investments and waiting list reductions.
Read at London Business News | Londonlovesbusiness.com
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