Four-fifths of shoppers are worried about supermarket “shrinkflation” and are turning away from their favourite brands as a result, according to a survey.
Some 81% of consumers said they were concerned about buying smaller-sized items at original prices, with 29% buying their favourite product less often as a treat, and 18% switching to brands which had not changed their sizes, Barclays found.
In June, 70% of Britons had noticed examples of shrinkflation, up from 65% in May – particularly when buying chocolate (46%), crisps (42%), packets of biscuits (37%) and snack bars (32%).
Shoppers also reported seeing shortages of certain products at the supermarket, with 37% noticing that some basic items including eggs, fresh produce and tinned staples were regularly unavailable.
A fifth (20%) believed there were fewer new products being introduced onto the shelves.
Spending on groceries soared 9.5% year-on-year in June – the highest growth in the category in two years but still lower than the rate of food inflation at 18.4%.
Some 67% of shoppers said they were trying to cut the cost of their weekly shop, with 32% shopping at multiple supermarkets to find deals and 39% buying more “yellow sticker” items.
Spending in discount stores was up 8.8%, the largest growth since April 2021.
Barclays reported consumer card spending grew 5.4% year-on-year in June, up from May’s 3.6%, as the warm weather encouraged consumers to shop for summer clothes and socialise at pubs and bars.
Spending on non-essential items increased by 5.7% over the month as the sunny weather drove demand for socialising with friends and family.
Spending at pubs, bars and clubs increased by 8.4% as a result of the weather, rising beer prices and Father’s Day celebrations.
But spending in restaurants fell 8.2%, its sharpest rate since January, as 30% of Britons said they planned to spend less on eating out to offset rising household bills.
June saw Brits get into the swing of summer, bringing a welcome boost to several sun-starved categories— Esme Harwood, Barclays
Meanwhile, spending on airlines increased 33.5% as households prioritised summer holidays abroad, outpacing demand for staycations.
Esme Harwood, director at Barclays, said: “June saw Brits get into the swing of summer, bringing a welcome boost to several sun-starved categories.
“Pubs and bars benefited from Brits soaking up the sunshine in beer gardens, while butchers and garden centres saw a jump thanks to the arrival of barbecue season.
“Even clothing retailers, which have struggled since the start of the cost-of-living crisis, returned to growth, as consumers took advantage of the heat to refresh their summer wardrobes.”
Opinium surveyed 2,000 UK adults between June 23 and 27.
