People continue to count pennies despite recovery

Irish shoppers are still counting the pennies and concerned about over-reaching following the recession, according to new research.

The information formed part of a presentation by Georgieann Harrington of Kantar WorldPanel at a conference in Croke Park this week.

According to the consumer research, 84% of people are concerned about their spending — 44% are slightly concerned and 40% are very concerned.

However, it seems grocery spending is not the main focus for many households when it comes to saving money.

Of those who said they were very concerned about spending, just 6% ranked grocery shopping as the number one area to cut back on.

Options for reducing spend we’re listed as changing where they shop, buying cheaper goods and putting more planning into shopping trips.

The research also found that the annual average grocery basket spend last year of €5,397 has actually increased this year, with the same grocery basket, spread across the year, likely to cost an annual total of €5,478 in 2014, due to 1.5% inflation.

It also found promotions are still the most prominent coping strategy when it comes to groceries, and that in general, people do not want to cut back on groceries.

Instead, spend is being managed outside of household grocery shopping.

In general, the annual shopper spend last year of €5,460 was down from the 2008 level of €6,134.

The same conference heard that large discount retailers Aldi and Lidl have been increasing their market share and that younger grocery shoppers are more likely to spend on promotional items in-store.