15:39 27 September 2012
A recent study confirms that UK consumers are now spending more money on comfort and convenience food. This is despite the fact that prices are going up.
Based on the findings in the Snapshot Report, by the Symphony IRI Group - an industry leader in FMCG market measurement -snacking, convenience, health, and new tastes are some of the main drivers of growth where it’s occurring.
Last year, they found there was an 11per cent increase in volumes of ready meals being bought. Some of the popular choices included Cottage Pie, Cumberland Pie, Mashed Potato, and Shepherds Pie.
The group also found there was also an increase in non-alcoholic and alcoholic drinks consumption. The Snapshot Report revealed that more UK consumers spent more money on cola and energy drinks this year, with spending on alcohol owing partly because of the Diamond Jubilee and Royal Wedding.
Not to be outdone, innovation and changing tastes performed well too. New products like Maggi So Juicy, Belvita, Colman’s Season & Shake, Lynx Attract for Her, Monster Energy Drink, Cadbury’s Twirl Bites, and Regaine were also claimed to be selling like hotcakes.
There was also an increase in the consumption of bread foods, walnuts, almonds, and pistachios, according to the report from the Symphony IRI Group.
Following the 2012 London Olympics and Paralympics, it seems that consumers are choosing healthier food options. Based on the new findings,sales for hearty breakfast, mineral water, and smoking cessation products were also impressive.
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