Canned food brands have seen volume sales drop by 18%, as cost-of-living pressures cause Brits to continue to trade down and seek cheaper alternatives.
According to recent Kantar data, seen by The Grocer, sales for own-brand canned food lines at supermarkets are up 5.5%, and value rose to 14.4% in February this year.
Average price per pack in branded canned & ambient is up 21.6% to £1.36, while own label is 8.4% pricier at an average of just 64p per unit.
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The Kantar research revealed that branded baked beans registered the highest price rises. With the average cost per pack up 37.8%, they are four times as expensive as own label alternatives. At the same time, volumes are down 24.3%.
Additionally, canned pasta and ambient soup are 30.9% and 30.6% more expensive respectively, while unit sales are down 20.1% and 19%.
Over the last year, branded price rises have been a particularly controversial point for the grocery industry, most notably with Tesco and Heinz, which saw the iconic brand pulled from shelves after ongoing price disputes.
The squeeze on household budgets had “forced consumers to monitor their spending and opt for cheaper options”, said Kantar category analyst, Cameron Bailey.
“Significant price hikes in ambient brands had further driven downtrading. Higher interest rates and increased cost of production are being passed on to the consumer,” he commented.
