One in 10 shoppers claim to have started stockpiling for a no-deal Brexit
Shoppers say they have started stockpiling. Photograph: Oliver Berg/PA. - Credit: DPA Germany
Shoppers claim to have started stockpiling food to prepare for a no-deal Brexit, data from surveys suggest.
Kantar Worldpanel found that one in ten shoppers reportedly are starting to stockpile groceries - with a further 26% reporting that they are considering doing so.
But they noted that the claims had not been reflected in sales 'just yet' - with overall grocery volumes were rising at a stable 1.2% in the four weeks to February 24.
Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, said: 'Despite one in 10 shoppers saying they have started stockpiling groceries and a further 26% reporting that they are considering doing so, this has not been borne out in sales just yet.'
The suggestions of a 'stockpiling' effect were reflected by data from the British Retail Consortium, which found consumer confidence levels are now close to five-year lows as the scheduled Brexit departure date of March 29th approaches.
You may also want to watch:
It found that shoppers were focused on buying food for stockpiling rather than non-essential items.
This was supported by analysis from Barclaycard with the company's director Esme Harwood commenting: 'Uncertainty over Brexit appears to be driving a shift in behaviour, with many Brits worrying about price rises and cutting back on non-essential spend, and some even stockpiling everyday items.'
Most Read
- 1 Nigel Farage loses nearly 50,000 followers after Twitter suspends QAnon accounts
- 2 Michel Barnier tells UK to be 'very careful' in Brexit diplomatic status row
- 3 Fifteen ways to fix Britain
- 4 This chumocracy is costing our country
- 5 Holyrood in talks with EU to extend Erasmus scheme to Scottish students
- 6 Susanna Reid takes on Priti Patel over government's gaslighting of public on coronavirus
- 7 An actor whose politics were a touchy subject
- 8 Tory minister admits UK rejected EU's music visa offer in order to 'take back control' of borders
- 9 Independent SAGE adviser gives scathing assessment of Priti Patel's £800 Covid fines
- 10 Brexiteer says he'd never have voted for Brexit 'if we knew we'd lose our jobs'
Analysts Nielsen, however, noted that their latest statistics showed average groecery spend had fallen from £16.70 each week to £16.30 - with the belief that Brexit fears had led to a more 'cautious' approach to shopping.
Mike Watkins, Nielsen's UK head of retailer insight, said: 'Over the last four weeks, the average spend per visit has fallen to £16.30 from £16.70 this time last year, down 2%, as a result of the resurgence of 'little and often' shopping behaviour but also due to price cutting by supermarkets.'
Become a Supporter
The New European is proud of its journalism and we hope you are proud of it too. We believe our voice is important - both in representing the pro-EU perspective and also to help rebalance the right wing extremes of much of the UK national press. If you value what we are doing, you can help us by making a contribution to the cost of our journalism.