Credit crunch boosts discounters, local shops and own label

The economic slowdown is good news for discount retailers, local shops and own-label products, according to research from retail consultancy him!

A survey conducted by the consultants found:
• 22% of adults said they would spend more at discount supermarkets
• 19% will spend more at local retailers, because they are cheaper to get to and offer perceived good value
• 18% will be spending more on retailers’ own label products rather than national brands

Further findings included:
• 36% won’t be visiting a pub or bar in the next 12 months
• 25% will spend less on eating out at restaurants
• 35% won’t be visiting a fast food outlet over the next 12 months
• 24% will be spending more on home and garden improvements
• 17% will be spending less on clothes from value retailers like Primark

Some 84% of Britains though the UK will enter a recession or economic slowdown in the next 12 months, up from 57% three months ago.

Related Articles:
Marks & Spencer bids to boost sales with ‘discount vouchers’
French Retailers Slash Prices

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2 Responses

  1. […] [Technorati] Tag results for credit wrote an interesting post today onHere’s a quick excerptCredit crunch boosts discounters, local shops and own label Posted on July 25, 2008 by retailnu The economic slowdown is good news for discount retailers, local shops and own-label products, according to research from retail consultancy him! A survey conducted by the consultants found: • 22% of adults said they would spend more at discount supermarkets • 19% will spend more at local retailers, because they are cheaper to get to and offer perceived good value • 18% will be spending more o […]

  2. Those are some striking statistics! Thanks for the information.

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