Food prices rise by 8.3%

6 09 2008

It was reported this week by the BBC that food prices have risen by 8.3% since January this year. This is based on the figures from a survey carried out by Verdict Research specifically for the BBC.

A packet of ham, a pack of four croissants and a medium sized chicken were among the seven products whose individual prices had risen by more then 40%. Among the 13 categories into which all the products were classified, Meat and Fish rose the highest, by 22.9%, followed by Store-cupboard items and Fresh Fruits and Vegetables which rose by 15% & 14.7% respectively.

Inflation is also affecting the sales of organic produce which fell by 8.1% as compared to last year according to the analysts TNS. Families with low income are unable to afford the high price of organic produce and more people are increasingly switching to buying supermarket own-brand products.

Supermarket Sainsbury’s believes that most people no longer perceive supermarket own-brand products in a negative manner nor are they embarrassed of buying them and are beginning shift to buying own-brand products to help cuts their costs. According to Marketing Week, Sainsbury’s research showed that a minority of the people believed that the brand they bought reflected on them as a person. To make the most of the current situation, Sainsbury’s launched an ad campaign on the 5th of September called “Switch & Save” to encourage their customers to buy the supermarket’s own-brand products. The link to watch the new Sainsbury’s advertisement is given below.

http://business-easy.blogspot.com/

http://news.bbc.co.uk/1/hi/business/7597703.stm

http://www.marketingweek.co.uk/cgi-bin/item.cgi?id=62302&d=254&h=5&f=3

http://www.youtube.com/watch?v=6u-P9C2obec


Actions

Information

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s




%d bloggers like this: