Rolling coverage of the latest economic and financial news, as food prices rise at fastest rate since at least 2005
Supermarkets need to offer good value this Christmas to win business from cash-strapped customers, adds Mike Watkins, Head of Retailer and Business Insight at NielsenIQ.
“External factors are keeping shop price inflation at record highs and the challenging economic conditions are significantly impacting consumer confidence and retail spend.
With pressure growing on discretionary spend across both non-food and food retail, delivering good value is the table stake in the battle for shopper loyalty over the next 8 weeks.”
