Europe: To overcome the cost of living crisis, Irish-British consumers are turning to cheaper meat and fish cuts and smaller, local brand labels. Last month, upmarket British chain Waitrose reported that sales of fish heads were up an "incredible" 34% compared to last year, while sales of Spam were up 36%.
Irish-British consumers are turning to cheaper meat and own-brand labels to overcome the cost-of-living crisis. Last month, upmarket British chain Waitrose reported that sales of fish heads were up an "incredible" 34% compared to last year, while sales of Spam were up 36%. The retailer went on to say that the "use-it-all trend " and a shift to slower, less expensive cooking appeared to be responsible for the 23%, 9%, and 4% increases in sales of beef shin, ox cheek, and lamb neck, respectively.
Figures from various retailers point to a "consumption trend" and a shift to slower, less expensive cooking, which led to a 23%, 9% and 4% rise in sales of beef shin, ox cheek and lamb neck.
"Customers are increasingly looking for value in their purchases," Tesco said in a statement. In recent months, Tesco has reported cuts in the value of mince, diced and stewing meats, to describe some customers "moving towards cheaper protein meats and cheaper cuts in the meat department". Meanwhile Tesco Ireland claims it has noticed a "shift to Tesco label brands in categories such as breakfast meats".
According to a Tesco Ireland spokesperson, we are seeing some signs of customers switching across Tesco's own brand product lines and across different categories.
The store saw "increase in sales volume across all meat and poultry" while also seeing an increase in "traditionally cheaper items". For example, we see an increase in loins and steaks, particularly as we approach the weekend, indicating that more people are choosing to cook at home rather than eating out." A spokesperson for Lidl stated,
These consumer shifts come at a time when food inflation is soaring. Grocery price inflation reached 12.4% in the 12 weeks to October 3, according to recent research by Research, with 32% of Irish shoppers reporting they "struggle" to make ends meet. There was a 23% increase in that number in March this year. Sales of the retailer's own-label brands "jumped" by 7.2% in the 12 weeks to October 3, and retailers in Ireland continue to prioritize own-label product lines in response to consumer value.
Aldi urged customers to choose own-label (store brand) goods over branded goods to "save significant money". According to an Aldi spokesperson, households could save around €100 a month.
Apart from chicken, sales of fresh meats such as beef, fish and goat are also down, a representative for Aldi said. “Non-essential goods such as spirits, wine and ciders are also witnessing a reduction in purchase volume,” noting that shoppers are changing their behavior in response to the cost-of-living situation. They added.
