Cost of Christmas dinner on the up
Figures from Kantar show that inflation is nudging up the price of Christmas dinner staples. The data analyst said grocery prices are up 3.2% in the past four weeks, the highest rate of inflation it has recorded since June 2020.
But Kantar says consumer behaviour hasn’t caught up with these changes – with Brits resisting swapping branded products for own label or seeking out promotions.
Its analysis suggests that preparations for the festive period are in full swing. Price inflation doesn’t seem to be denting shoppers’ desire to treat themselves, with supermarket premium own-label ranges, such as Tesco Finest and Asda Extra Special, the fastest growing ranges in store.
Last December, Kantar recorded sales of premium own-label lines hitting more than £587m, and says the figure could be even bigger this year.
Its latest figures show take-home grocery sales have fallen by 3.8% over the 12 weeks to 28 November 2021 compared with the same period in 2020. Sales remain strong compared with the market before the pandemic, and grocery spend was 7% higher in the latest 12 weeks than in the same period in 2019.
Circumstances are very different this year compared to November 2020. With people back in the office a few days a week and restaurants and cafés open, we’re putting less in our grocery baskets for cooking at home and, as a result, the average shop size has shrunk by 8% this month versus the same period last year.