The discount channel will grow by a huge 64.7% to £12.4bn by 2017, reflecting a “long-term cultural shift” in shopper habits, predicts new research.
The IGD research, commissioned by discount wholesaler Rowan International, forecast the sector would increase its share of the grocery market from 4.6% in 2012 to 6.4%.
Of the 1,000 shoppers surveyed every month from April 2012 to April 2013, 46% claimed to have shopped at a discounter in the previous month, and 85% of them said they planned to keep doing so even if their personal finances improved.
“It’s a long-term cultural shift,” said Rowan’s commercial director James Russell. “The discount channel is growing and this research reveals it’s highly unlikely to stop anytime soon. Shopping habits have changed in response to economic conditions. But as discounters adapt and consumers realise discount goods are of high quality, it becomes increasingly likely this will be a permanent change.”