Trust in the food industry at an all time high*
Shopper confidence has increased to its highest level since February 2020, according to the latest IGD Shopper Confidence Index. The increase is driven by restored confidence within the over-55s, which appears to be a direct result of the vaccine roll-out. Trust in the food industry is also at an all-time high, thanks to the industry maintaining supply, focusing on health and supporting local communities and suppliers.
But, despite these encouraging results, overall confidence remains fragile, caused by the uncertain length of the national lockdown, the economic downturn and potential supply chain disruption surrounding the EU trade deal.
January 2021 results
January’s score increased slightly to -5, which although is relatively low, is the highest level since February 2020.
Shopper confidence fluctuated slightly across the month and dropped to -7 in early January following the new national lockdown and ‘stay at home’ message, combined with the rising number of COVID-19 cases, hospital admissions and deaths. The index rose to -4 at the end of the month as the UK passed the halfway point towards its mid-February target of administering at least one dose of a COVID-19 vaccine to 15m people.
IGD ShopperVista 2021
- Confidence has increased the most among those aged 55+ (-3 vs -9 last month) – a priority group to receive the vaccine
- Confidence has improved slightly across all major regions
- With news of the progress on the vaccinations programme, 19% expect to be better off in the year ahead (+2% vs last month) – the highest level since July 2020
- Just under a third (31%) expect to be worse off financially in the year ahead (-1% vs. last month)
- Trust in the food industry has increased to the highest level recorded, with a focus on the provision of healthy products, supporting local suppliers, farmers and local communities
Simon Wainwright, Director of Global Insight at IGD, said: “It’s really encouraging to see a slight increase in confidence in January, which builds on the increase from November 2020.
“However, the uncertainty surrounding the length of lockdown, the economic downturn and potential supply chain issues around the EU trade deal will mean that confidence will remain fragile for the foreseeable future, but it will be interesting to see the results in February, when the government is on course to reach its target of vaccinating 15m people.
“The increased trust in the food industry is testament to the responsiveness and agility delivered by suppliers and retailers throughout the pandemic and this will need to be maintained for shoppers as we are faced with continued uncertainty.”
The full IGD Shopper Confidence Index is available to subscribers on IGD ShopperVista.
*Since the data was first tracked in August 2013
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Notes to editors
- Source: IGD ShopperVista; base: 1000+ British shoppers, January 2021
- The IGD Shopper Confidence Index blends four key measures that relate directly to the food and consumer goods sector to calculate an overall indication of shopper confidence:
- Household finances: expect to be better or worse off
- Food prices: expect to get less or more expensive
- Focus on quality vs. saving money: future and current focus
- Trust in industry: across a range of measures
- These measures are combined, and the Index score is calculated. The index can vary from -100 to +100, where -100 is a very negative outlook and +100 a very positive outlook. It produces a monthly indication of GB shoppers’ food and grocery confidence, with trended data going back to 2013.
- The IGD Shopper Confidence Index will be updated each month with our latest data. Historical trend data is available back to 2013
- For more information about the Index and its measures, please visit IGD ShopperVista
- IGD is an organisation of two interconnected communities. The profits from Commercial Insight are reinvested into Social Impact, which together work to drive change that makes a tangible difference for society, business and the individual.
- Commercial Insight is delivered through six core areas:
- Retail Analysis – providing trusted data and insight, straight from the heart of retail;
- ShopperVista – providing insight that creates the foundation for progressive shopper and category thinking;
- Events – providing compelling experiences that connect people and ideas together;
- MarketTrack – the most trusted, rigorous market read in the retail sector;
- Supply Chain Analysis – providing answers and unlocking potential;
- Solutions – personalised solutions that address the critical customer and commercial challenges.
- Social Impact from IGD is delivered in four key areas:
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