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Belt-tightening UK shoppers plan lower food spend for 2019

By Katy Askew contact

- Last updated on GMT

Related tags: Food prices

Over half of UK consumers want to cut their spending by £1600 in 2019, new research reveals.

According to a survey from merchant services provider Paymentsense, 56% of consumer are eyeing average monthly savings of £131 over the next year.

Rising living costs are the primary cause for 42% of people and food was identified as an area where savings can be made. Consumers said they would eat out less and buy fewer takeaways.

Flying in the face of conventional wisdom that ‘treat’ categories stand up well in difficult economic times because consumers turn to them for comfort, almost one-third of people said they would buy fewer sweets, cakes, crisps and chocolates.

“Although it is common for people to make positive plans in the New Year, Our study reveals that instead of aspirational health or lifestyle goals many UK consumers are increasingly concerned about just keeping up,”​ Guy Moreve, CMO of Paymentsense, said.

Watch the video to find out more.

Related topics: Bakery, Market Trends, Confectionery, Snacks

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