Why the sudden surge in premium products?
Shoppers have been splashing the cash on Supermarkets premium own label brands as they decide to treat themselves.
Figures from Kantar Worldpanel show a huge rise in these products. The 12 weeks leading to the 4 December show an increase of 13 per cent, despite the sluggish growth overall for retailers.
Morrisons’ The Best Range saw an increase of 35 per cent, Asda’s Extra Special products rose by 15 per cent, whilst Aldi’s Specially Selected is up by 10 per cent.
Kantar expects to see these premium goods sell even further in the lead up to Christmas.
Fraser McKevitt, head of Kantar’s retail and consumer insight, told the BBC: “In the past 12 weeks, 6.3 per cent of own-label purchases were from premium lines such as Tesco Finest and Sainsbury’s Taste the Difference – well ahead of the 5.7 per cent recorded last year,”
Shoppers are yet to feel the effect of inflation as the typical basket of groceries is 0.1 per cent cheaper than this time last year.