Almost three-quarters of UK shoppers now opt for own-label products in an attempt to save money on the weekly shop, according to price comparison site, uSwitch.com.
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The number has tripled from just 25% in August 2008, uSwitch said, after a survey of over 9,900 shoppers.
Despite price increases stabilising, 45% of consumers are still finding food more expensive than last year and have adopted their own saving strategies. The survey claimed that consumers are opting for own-label lines like Waitrose’s Essentials or Sainsbury’s Basics rather than big name brands.
Supermarkets are also expanding their own-brand ranges in a bid to stop consumers switching to cheaper chains.
Rumina Hassam, personal finance expert at uSwitch.com, said: “The number of Brits making basic changes to their weekly food shopping patterns has increased dramatically since last year, as the effects of the recession continue to amplify.”
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By GlobalDataSome 74% of shoppers are also now regularly using money-off coupons on their weekly shop, compared with only 26% last year.
Meanwhile, one in five consumers now compare prices online before they shop; this was just 6% in August last year. Some 15% now shop only online, tripling from just 5% last year. Industry commentators now predict that the value of online food sales could hit GBP8bn (US$13.6m) by 2011.
