LONDON, July 21, 2022 /PRNewswire/ — After weeks of Brits adjusting to the shock of record petrol prices, the cost of running a home is set to take over as the key battleground in combating the cost-of-living crisis. Nationally, 40% of people say their financial position is getting worse – with home energy bills (48%) and soaring food prices (20%) now the biggest causes of hardship, compared to 10% that cite the cost of running a car (10%).
The findings are from the latest edition of Bakkavor’s ‘State of the Nation Tracker’ – a quarterly study which reveals top trends that are re-shaping Britain’s relationship with food this summer.
- Spending less: People’s relationship with food has become significantly more focused on saving money, with 44% of adults saying they are reducing spend on groceries in order to keep family finances afloat – and 48% are having to compromise on lifestyle essentials to afford the food shop.
- Making cutbacks: To make ends meet, people are cutting out take-aways (45%), focusing on throwing less food away (45%), making packed lunches (30%), skipping meals (20%) and switching to discounter supermarkets.
- Avoiding treats: Cutting back on treats is a priority – overall 55% have cut them out as many are avoiding top-up shops to remove the risk of impulse buying during the week.
- Risk to diet: There is a serious risk that people’s diets could suffer from the cost-of-living crisis, as price dominates shopping decisions. Nationally, only 14% of people said they are now looking for healthier food options in store, down from 18% at the start of the year.
- Risk to the planet: Of concern, sustainability has taken a back seat as a result of the cost-of-living crisis. Reducing plastic use [19%], and food waste [20%], remain important to many but fewer people are making grocery decisions with protecting the planet front-of-mind.
Mary Kirk, Head of Insight at Bakkavor comments: “Our research highlights the scale of concern over the cost of living, but it also suggests people are adapting – many making cutbacks and re-prioritising. At Bakkavor, we recognise the changed economic context and we are working hard to bring value for money to every basket and inspiration to every meal – through an array of enjoyable solutions and treats that are fresh and offer convenience without compromise.”