Almost 80% of people struggling with cost-of-living crisis, survey finds

Half of customers have cut back on spending on fruit and vegetables to manage their budgets.

Some 77% of the population are worried about their finances due to the ongoing cost-of-living crisis, a new survey has shown.

Essentials like food, electricity, gas and oil all saw prices skyrocket in 2022, leaving many Irish families struggling to cope with the hikes.

According to a survey published on Sunday, over three-quarters of the population are concerned about their situation.

The survey, commissioned by Aldi Ireland and conducted by Bounce Insights, found out that:

• The cost-of-living crisis is making almost one in every three people (30%) ‘fearful or anxious’ about the future.
• More than seven in ten people (72%) are conscious of the price of goods.
• Almost half (47%) are seeking value for every cent they spend.

On top of that, the data shows that half of all customers have cut back, or intend to do so, on spending on fruit and vegetables in an effort to manage their budgets, while 86% have, or plan to, reduce their spending on organic and environmentally-friendly produce.

The switch to own label products is also increasing, with 77% having already swapped brands for own label products and a similar number (73%) having switched to discount retailers to help cut their grocery costs.

Group managing director at Aldi Ireland Niall O'Connor said: "The research findings are stark, with more than three-quarters of people in Ireland having financial worries as a result of the cost-of-living crisis. 

It shows the extent of the impact this crisis is having on Irish consumers and the extreme measures they are taking to combat it.

“We continue to be very aware of this impact and even more committed to our customers in helping them weather this storm. We will continue to shield and protect them with low prices starting with even bigger discounts over the coming year.

“Our survey shows that more than three-quarters of all customers have already switched to private label goods as they look to manage their household budgets."

Minimum wage

Aldi plans to start a recruitment drive across their 155 stores in Ireland and have also committed to adopting the new recommended living wage on February 1.

From that date, the supermarket's minimum pay will rise to €13.85 an hour.

They have also announced the creation of more than 360 new jobs across the country.

The new jobs arise due to the ongoing expansion of the ALDI store network – 155 stores currently with plans for an additional six this year - and the demand the retailer is currently seeing in the market with increasing customer numbers and strong projections for 2023.

This follows the recruitment campaign for 450 people in November 2022 with all roles filled last year.