Yahoo Finance Trust in supermarkets falls to nine-year low as shoppers feel 'ripped off'
Trust in supermarkets has plummeted to a nine-year low as shoppers feel “ripped off” by convenience store prices.
Which?’s monthly consumer insight tracker found that trust in the groceries industry dropped in May to the lowest it has been since November 2014, with a score of 36 – a fall of 32 points since the previous high of 68 in May 2020.
A separate survey by the consumer group found that 67% of UK adult believe supermarkets are ripping people off with their convenience store prices, which can often be more expensive than larger stores.
Three-quarters (75%) also said they find the price of convenience store foods too expensive compared to larger supermarkets and nearly half (45%) struggle to find affordable food in convenience stores.
Half of those (51%) who rely on convenience stores at least once a week are struggling financially with the cost-of-living crisis compared to 35% of consumers overall, the poll found. Some 57% agreed that having more budget ranges in stores would help.
Read more: UK supermarket bosses paid millions as workers make do with £11 an hour
Which? director of policy and advocacy Rocio Concha said: “Trust in the groceries industry has fallen to a nine-year low – with many consumers telling us they feel ripped off by high convenience store prices.
"People should not have to pay over the odds for everyday essentials just because they struggle to get to a large supermarket.
“While the whole food supply chain affects prices, supermarkets have the power to do more to support people who are struggling, including ensuring everyone has easy access to basic, affordable budget ranges at a store near them, including smaller stores for consumers who rely on these.
In response to rising food prices, nearly six in 10 (57%) said they have bought cheaper items, four in 10 (39%) have bought cheaper items on promotion and four in 10 (40%) have shopped around.
One in 10 (11%) have skipped meals, 7% have prioritised meals for other family members and 4% have used a food bank.
An estimated 1.9 million households missed or defaulted on at least one mortgage, rent, loan, credit card or other bill in May, according to the tracker’s findings.
Read more: UK households paying an extra £833 on groceries as food inflation remains high
The 6.9% missed payment rate is in line with the level seen at the same time last year, but is still higher than in May 2021 (5.7%) and May 2020 (5.3%).
Renters remained much more likely than homeowners to have missed a payment in the last month, at 12.8% and 4.3% respectively.
More than half of households (55%) reported making at least one adjustment, such as cutting back on essentials, dipping into savings or selling possessions, to cover essential spending such as utility bills, housing costs, groceries, school supplies and medicines in the last month.
Watch: When will food prices start to fall?
Download the Yahoo Finance app, available for Apple and Android.
