One of the trends we're tracking is whether current financial gloom is affecting sales of premium food. No, says Sainsbury who have just announced 12 week sales to March 22nd. Asked specifically about this, Justin King their CEO said that there is no evidence that consumers are trading down to save money, and that their research says consumers will continue to spend more in areas where quality is important to them. According to King, the biggest sales growth was in their premium "Taste the Difference" range, and at the other end of the scale in their basics range.
The other interesting trend he highlighted was that ready meals sales have stopped growing, but what is booming are foods where one stage of preparation has been done, like meat with a sauce on the side, or veg which has been peeled and diced. King put this down to a wish to eat more naturally and healthily, but save a bit of time where possible.
2 comments:
Interesting piece today in the NY Times indicating that visits to restaurants don't seem to drop during hard economic times. Seems like people still hold dearly to the pleasures of the table when times get tough.
Thanks T.W. Your comment is a timely reminder that out of home eating is a big market for food, and should not be forgotten when analysing trends. Colette.
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