Shoppers Heading For Discount Supermarkets And BOGOF Deals
Published: 1 April 2011 By MoneyHighStreet Staff Leave a Comment
As consumers try to save money, they are heading for cheaper supermarkets and relying on BOGOFs and other special offers.
According to Kantar Worldpanel, this year has seen limited change in market share among the top four supermarkets of Tesco, Sainsbury’s, Asda and Morrisions.
In contrast, some of their discount supermarket rivals have seen improvement.
Lidle grew its market share to a record. This in the main was due to existing customers spending more rather than an upsurge in new customers. Analysts also suggest it could in part could be down to disruption at Netto, as it is currently being bought by Wal-Mart, owner of Asda.
Frozen food chains Iceland and Farm Foods also outperformed the wider market.
Consumers are trying to manage their spend and counter the increase in food prices by taking time to price check and in particular make increased use of special offers, including Buy-one-get-one-free (BOGOF) deals.
MoneyHghStreet.com comment: With inflation rising and the overall cost of living on the up, consumers are feeling the pinch and are looking at how to save money and get the best deal on products and services.
An option is to consider shopping online, not least this will help you avoid enticing offers! Perhaps make use of services such as mysupermarket.co.uk to compare prices and of course use special offers where you can.
Take time to review all your outgoings and see if you can get a better deal on such as your mortgage, credit card or utility plans. Protect your savings, for example by utilising your full ISA allowance.
How about setting yourself a budget to help with all your personal finances? That way at least you will have a good handle on what money you have coming in, what has to go out and what, if any, extra you have to spend on ‘nice to have’ items.
These are only suggestions for you to consider, your exact steps will of course be dictated by your own specific circumsatnces which only you can make decisions on – if need be seek professional advice to help.
