Recession will dent ethical shopping
by David Masters
November 24, 2008
Shoppers are set to shun organic food for cheaper alternatives during the economic downturn.
Researchers at Mintel predict that around half of organic food shoppers will switch to non-organic alternatives in the oncoming recession, as they seek to stretch every penny spent.
Organic food and drink is big business in the UK, worth £1.6 billion per year.
The sector has grown at an annual rate of 16% over the past five years.
The tightening of belts for the oncoming recession, however, is likely to bring this growth to a standstill.
Mintel’s research found that just 21% of shoppers now specifically look out for organic food.
Locally sourced and fairly traded products are higher up the agenda of ethical shoppers.
Thirty three percent of consumers seek out locally sourced goods, whilst 26% look for the fair trade label.
The local produce market is booming, now worth £4.8 billion per year as Brits seek to boost their local economies.
Twenty eight percent of those surveyed by Mintel said they’d be happy to pay more for food and drink if they knew it had come from local farmers.
Discuss this in the Fair Home Forums
Related posts to "Recession will dent ethical shopping":
- eBay launches ethical shopping website
- Support fairtrade with ethical investments
- Credit crunch hits ethical investment
No Comments »
No comments yet.
Leave a comment
Previous: « EU set sights on Arctic energy
Next: Riot In Amazon City Over Seized Timber »
Visited 2406 times, 1 so far today