Cost-of-Living changing the way customers shop
By Hamzah Amir Ahmed, Declan Hughes, Archie Meldrum
Despite the price changes, Waitrose is still one of the most expensive retailers with an average price of £5.20 (GettyImages)
The cost-of-living crisis in the UK has had a monumental impact on the average UK shopper. The reduced spending budget available to customers has resulted in a decrease in the overall spending on many non-essential items. Ultimately, customers are turning towards cheaper products to save money.
According to Which? Supermarket Inflation Tracker, on average the price of food is eight per cent higher this January compared to last year. The biggest increase on an individual product is olive oil. In December 2022, the cost was £5.08 per litre. Now the cost is £7.40. This marks a staggering 46 per cent increase.
Supermarket prices have skyrocketed in the last year alone. The Trolley.co.uk Grocery Price Index (GPI) monthly tracker shows that Sainsbury’s have had the biggest increase. On average, products are now £0.40 more expensive. This is an increase of nearly 10 per cent.
Ocado are one of the biggest online grocery stores. Ocado have seen a jump in their prices and as a result they have usurped Waitrose and stand at the top of the list with an average cost of £6.40 per average product. For many years the latter has also been at the top for most expensive retailer.
For years Aldi has been a cheaper option and now it seems that it is of higher demand for customers (Unsplash)
Even though most supermarkets have become more expensive, there are still a couple of cheaper alternatives for customers to do their grocery shopping. Aldi sits at the cheapest at just under £2.70. They have also had the lowest increase from the list of nine supermarkets, only going up by £0.07.
Carol Morrison lives in Glasgow and has built a habit of shopping from the most affordable places.
She said: “I always shop at Aldi and Lidl. I still shop there; it is cheaper.”
Like Aldi, Lidl has also become a popular shopping place for other residents in the city. Mason Allen has had to adjust his lifestyle with the increased prices.
He said: “I have been shopping around different places like Asda, Lidl, Aldi. Tesco is all right, but it depends on what day of the week. I have cut down on steaks and dairy. I have been buying more own brand stuff.”
Customers have not only to think about which supermarket they shop at but also what they put in their basket. Products such as treats are reluctantly avoided for more essential household items.
Morrison is one such customer who has had to cut many desired items out of her shopping list.
She added: “It has made me more careful. I have cut back on treats, biscuits and cakes. I try to eat more vegetarian food; it is cheaper than meat. Diesel has gone up, so I try to make shorter journeys.”
Hamish Wood shops many times throughout the week. Unfortunately, he has had to reduce the volume of products he buys.
He said: “I shop at different places like Lidl now. Other than that, I am just more careful with spending. I drink less coffee and I haven’t cut specific things out, I just treat myself less.”
Lidl’s popularity has increased in recent years (Unsplash)
Aldi and Lidl have become the go-to supermarkets for shoppers. Customers would rather stay away from the soaring prices in stores such as Waitrose, Ocado and Sainsbury’s. Prices have not only affected necessary items but have caused consumers to think twice before buying their preferred goods.