Chilled fish sales continue to decline as UK food inflation hits a new high in September 2022. Inflation of 13.9% – a record high since 2008
Poultry increased slightly by 1.4%, while sales of chilled fish decreased by 4%. Sales decreased in all seafood categories except shellfish, where sales increased 1%. Battered fish sales fell the most, down 11.6% in the quarter, while value-added seafood sales he fell 8.9%. Sales of smoked seafood were down 4.9% and sales of natural products were down 1.1%. Sales of chilled fish decreased by 9.9%, sales of value decreased by 15.2% and sales of whipped products decreased by 16.3%.
Shoppers are sticking to the types of groceries they ‘know and love’ while looking for cheaper alternatives such as private label. In September, supermarket own-brand sales increased by 8.1%, while branded goods fell by 0.7%.
Consumer commitments to buy eco-friendly products are under pressure due to financial pressures.
Rising utility costs are also pushing up consumer spending, with shoppers looking for cheaper ways to cook by avoiding ovens. A 53% increase in sales of cookware that typically uses less energy, such as slow cookers, air fryers and sandwich makers.
For the fifth consecutive month, Lidl was the fastest-growing grocery store, with fourth-quarter sales up 20.9%, and Aldi’s sales up 20.7%. Asda is the largest brick-and-mortar supermarket leader, with sales up 4.5%, according to McKevitt.
Tesco’s sales increased by 2.5% in the quarter, but the grocer reported that profits fell by 64% in the first half of 2022. In addition, the major grocery chain plans to cut 325 jobs at its headquarters in Welwyn Garden City, UK.
Source: Seafood Source